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M Food Q1 profit falls YOY

4863066 said its normalized net income for the first quarter was 35,150 zlotys, a decline of 95.3% from 746,300 zlotys in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 2.2% from 2.7% in the year-earlier period.

Total revenue fell 9.0% on an annual basis to 25.3 million zlotys from 27.8 million zlotys, and total operating expenses decreased 14.5% from the prior-year period to 23.3 million zlotys from 27.2 million zlotys.

eported net income decreased 95.9% from the M Food SA.