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Wikana Q3 profit falls YOY

Wikana SA said its normalized net income for the third quarter was 3 groszy per share, a decrease of 64.9% from 9 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 619,500 zlotys, a decline of 65.4% from 1.8 million zlotys in the year-earlier period.

The normalized profit margin increased to 6.6% from 5.0% in the year-earlier period.

Total revenue fell 73.7% year over year to 9.3 million zlotys from 35.5 million zlotys, and total operating expenses fell 75.5% from the prior-year period to 7.4 million zlotys from 30.3 million zlotys.

Reported net income declined 71.2% on an annual basis to 735,000 zlotys, or 4 groszy per share, from 2.5 million zlotys, or 13 groszy per share.

As of Nov. 14, US$1 was equivalent to 4.12 zlotys.