Grupa Zywiec S.A. said its third-quarter normalized net income amounted to 7.31 zlotys per share, a decrease of 31.7% from 10.71 zlotys per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 75.1 million zlotys, a decrease of 31.7% from 110.0 million zlotys in the year-earlier period.

The normalized profit margin declined to 10.9% from 11.6% in the year-earlier period.

Total revenue fell 27.2% year over year to 691.1 million zlotys from 949.9 million zlotys, and total operating expenses fell 25.5% year over year to 572.8 million zlotys from 768.5 million zlotys.

Reported net income fell 39.4% from the prior-year period to 82.5 million zlotys, or 8.03 zlotys per share, from 136.0 million zlotys, or 13.24 zlotys per share.

As of Oct. 26, US$1 was equivalent to 3.97 zlotys.