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Inter Cars Q3 profit climbs 17.1% YOY

Inter Cars S.A. said its normalized net income for the third quarter was 3.57 zlotys per share, an increase of 17.1% from 3.05 zlotys per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 50.6 million zlotys, an increase of 17.1% from 43.2 million zlotys in the prior-year period.

The normalized profit margin fell to 3.4% from 3.4% in the year-earlier period.

Total revenue grew 18.4% on an annual basis to 1.49 billion zlotys from 1.26 billion zlotys, and total operating expenses increased 18.6% year over year to 1.41 billion zlotys from 1.19 billion zlotys.

Reported net income rose 12.5% year over year to 67.6 million zlotys, or 4.77 zlotys per share, from 60.1 million zlotys, or 4.24 zlotys per share.

As of Nov. 29, US$1 was equivalent to 4.18 zlotys.