British American Tobacco Zimbabwe (Holdings) Ltd said its normalized net income for the third quarter came to 15 cents per share, a decline of 10.6% from 16 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.0 million, a decline of 11.7% from $3.4 million in the prior-year period.

The normalized profit margin fell to 25.6% from 28.0% in the year-earlier period.

Total revenue fell year over year to $11.7 million from $12.1 million, and total operating expenses rose from the prior-year period to $6.9 million from $6.7 million.

Reported net income fell from the prior-year period to $3.9 million, or 19 cents per share, from $4.1 million, or 19 cents per share.