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Seko SA Q3 profit falls YOY

Seko S.A. said its normalized net income for the third quarter amounted to 5 groszy per share, a decrease of 17.4% from 6 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 343,750 zlotys, a decrease of 17.4% from 416,250 zlotys in the year-earlier period.

The normalized profit margin declined to 1.0% from 1.3% in the year-earlier period.

Total revenue rose 5.9% year over year to 34.3 million zlotys from 32.4 million zlotys, and total operating expenses increased 6.8% on an annual basis to 33.8 million zlotys from 31.6 million zlotys.

Reported net income decreased 12.5% from the prior-year period to 465,500 zlotys, or 7 groszy per share, from 532,000 zlotys, or 8 groszy per share.

As of Nov. 4, US$1 was equivalent to 3.89 zlotys.