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Miraculum swings to profit in Q3

Miraculum SA said its third-quarter normalized net income came to 2 groszy per share, compared with a loss of 4 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 202,750 zlotys, compared with a loss of 271,690 zlotys in the year-earlier period.

The normalized profit margin climbed to 1.9% from negative 3.1% in the year-earlier period.

Total revenue rose 24.3% year over year to 10.9 million zlotys from 8.8 million zlotys, and total operating expenses rose 22.6% on an annual basis to 10.0 million zlotys from 8.1 million zlotys.

Reported net income came to 275,500 zlotys, or 2 groszy per share, compared to a loss of 616,370 zlotys, or a loss of 10 groszy per share, in the year-earlier period.

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