(Alliance News) - The board of directors of Fine Foods & Pharmaceuticals NTM Spa on Monday approved its interim report as of March 31, which closed with a profit of EUR2.9 million compared to a loss of EUR2.5 million in the first quarter of 2022.

The first quarter reports consolidated revenues of EUR65.6 million, up 29 percent from EUR50.8 million in Q1 2022.

First quarter Ebitda stands at EUR7.9 million, a significant improvement from EUR4.0 million in the first quarter of the previous year.

First quarter Ebitda margin stands at 12 percent compared to 7.8 percent in Q1 2022.

Ebit was EUR4.2 million, a strong recovery from EUR400,000 in Q1 2022.

Net financial position as of March 31 was EUR51.5 million compared to NFP of EUR43.6 million as of Dec. 31, 2022.

Fine Foods & Pharmaceuticals closed Monday's session down 2.4 percent to EUR7.45 per share.

By Maurizio Carta, Alliance News reporter

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