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Seko SA Q3 profit falls YOY

Seko SA said its normalized net income for the third quarter came to 6 groszy per share, a decrease of 42.3% from 11 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 416,250 zlotys, a decrease of 42.3% from 721,250 zlotys in the prior-year period.

The normalized profit margin fell to 1.3% from 2.4% in the year-earlier period.

Total revenue increased 9.4% on an annual basis to 32.4 million zlotys from 29.6 million zlotys, and total operating expenses increased 11.7% year over year to 31.6 million zlotys from 28.3 million zlotys.

Reported net income decreased 42.9% from the prior-year period to 532,000 zlotys, or 8 groszy per share, from 931,000 zlotys, or 14 groszy per share.

As of Nov. 10, US$1 was equivalent to 3.96 zlotys.