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Symbio Polska swings to profit in Q3

Symbio Polska SA said its normalized net income for the third quarter was 147,100 zlotys, compared with a loss of 11,690 zlotys in the prior-year period.

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

The normalized profit margin climbed to 2.2% from negative 0.2% in the year-earlier period.

Total revenue rose 22.3% on an annual basis to 6.6 million zlotys from 5.4 million zlotys, and total operating expenses climbed 16.5% from the prior-year period to 6.2 million zlotys from 5.3 million zlotys.

Reported net income came to 193,050 zlotys, or 6 groszy per share, compared to a loss of 18,700 zlotys, or a loss of 1 groszy per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to 3.95 zlotys.