Milkpol SA said its second-quarter normalized net income came to a loss of 142,100 zlotys, compared with a loss of 78,990 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 fell to negative 2.5% from negative 1.4% in the year-earlier period.

Total revenue increased 5.3% year over year to 5.9 million zlotys from 5.6 million zlotys, and total operating expenses increased 6.9% from the prior-year period to 6.1 million zlotys from 5.7 million zlotys.

Reported net income totaled a loss of 224,560 zlotys, or a loss of 2 groszy per share, compared to a loss of 125,870 zlotys, or a loss of 1 groszy per share, in the prior-year period.

As of Aug. 16, US$1 was equivalent to 3.80 zlotys.