Fras-le SA said its normalized net income for the third quarter came to 11 Brazilian centavos per share, an increase of 42.8% from 8 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.0 million reais, a gain of 39.3% from 10.1 million reais in the year-earlier period.

The normalized profit margin climbed to 6.0% from 5.1% in the year-earlier period.

Total revenue grew 17.3% on an annual basis to 233.4 million reais from 199.0 million reais, and total operating expenses grew 16.4% year over year to 210.1 million reais from 180.5 million reais.

Reported net income grew 31.6% year over year to 16.5 million reais, or 14 centavos per share, from 12.5 million reais, or 10 centavos per share.

As of Nov. 10, US$1 was equivalent to 3.80 reais.