Milkpol SA said its normalized net income for the third quarter came to a loss of 78,690 zlotys, compared with a loss of 107,030 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 climbed to negative 1.2% from negative 2.1% in the year-earlier period.

Total revenue grew 23.8% year over year to 6.4 million zlotys from 5.2 million zlotys, and total operating expenses increased 22.1% on an annual basis to 6.5 million zlotys from 5.4 million zlotys.

Reported net income came to a loss of 125,900 zlotys, or a loss of 1 groszy per share, compared to a loss of 171,250 zlotys, or a loss of 1 groszy per share, in the prior-year period.

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