Delko SA said its first-quarter normalized net income was 30 groszy per share, a gain of 57.9% from 19 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.8 million zlotys, an increase of 57.9% from 1.1 million zlotys in the prior-year period.

The normalized profit margin increased to 1.4% from 0.9% in the year-earlier period.

Total revenue grew on an annual basis to 125.5 million zlotys from 124.2 million zlotys, and total operating expenses came to 122.1 million zlotys, compared with 121.7 million zlotys in the prior-year period.

Reported net income grew 53.2% from the prior-year period to 2.3 million zlotys, or 39 groszy per share, from 1.5 million zlotys, or 25 groszy per share.

As of May 15, US$1 was equivalent to 3.54 zlotys.