Comarch with PLN 6.2 mln Q1 net loss

WSE-listed IT group Comarch had a PLN 6.24 million consolidated net loss in Q1, compared with PLN 18.2 million profit last year. EBIT pummeled by 73 percent to PLN 0.6 million. Revenues were up by 6.4 percent to PLN 272 million. “The increase in sales revenues in the first quarter of 2018 and a positive operating result from operations were the results of, among others: increase in revenues from foreign and domestic sales which increased by 4.1 and 9.6 percent respectively. The increase in sales on foreign markets is the result of a significant improvement in the TMT sector, while the domestic growth can be attributed to a very good business development in the area of small and medium-sized enterprises in Poland, as well as improvement in the public and medical sectors,” the company said.