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Gino Rossi Q3 loss widens YOY

Gino Rossi S.A. said its third-quarter normalized net income came to a loss of 2.1 million zlotys, compared with a loss of 96,250 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 dropped to negative 3.3% from negative 0.1% in the year-earlier period.

Total revenue decreased on an annual basis to 63.7 million zlotys from 65.5 million zlotys, and total operating expenses rose on an annual basis to 65.6 million zlotys from 64.9 million zlotys.

Reported net income came to a loss of 3.5 million zlotys, or a loss of 7 groszy per share, compared to a loss of 200,570 zlotys, or a loss of 0 groszy per share, in the year-earlier period.

As of Nov. 10, US$1 was equivalent to 4.02 zlotys.