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ÂŽItnjak Q3 profit falls YOY

Žitnjak proizvodnja i promet robom d.d. said its normalized net income for the third quarter was 2.16 kuna per share, a decrease of 6.0% from 2.30 kuna per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 444,970 kuna, a decline of 6.0% from 473,320 kuna in the year-earlier period.

The normalized profit margin fell to 6.5% from 10.8% in the year-earlier period.

Total revenue rose 54.8% year over year to 6.8 million kuna from 4.4 million kuna, and total operating expenses rose 46.8% on an annual basis to 6.9 million kuna from 4.7 million kuna.

Reported net income declined 6.0% from the prior-year period to 711,950 kuna, or 3.46 kuna per share, from 757,300 kuna, or 3.68 kuna per share.

As of Oct. 18, US$1 was equivalent to 6.84 kuna.