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Ronson Europe swings to profit in Q3

Ronson Europe NV said its third-quarter normalized net income was 7.3 million zlotys, compared with a loss of 213,380 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 8.0% from negative 0.3% in the year-earlier period.

Total revenue increased 33.6% on an annual basis to 91.3 million zlotys from 68.4 million zlotys, and total operating expenses grew 14.7% on an annual basis to 77.0 million zlotys from 67.2 million zlotys.

Reported net income totaled 10.1 million zlotys, or 4 groszy per share, compared to a loss of 375,000 zlotys, or a loss of 0 groszy per share, in the prior-year period.

As of Nov. 15, US$1 was equivalent to 4.13 zlotys.