JHM Development SA said its third-quarter normalized net income amounted to 2 groszy per share, a gain of 21.8% from 2 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 1.7 million zlotys, an increase of 11.4% from 1.6 million zlotys in the prior-year period.

The normalized profit margin climbed to 10.5% from 7.8% in the year-earlier period.

Total revenue fell 17.3% year over year to 16.6 million zlotys from 20.1 million zlotys, and total operating expenses fell 21.6% on an annual basis to 13.4 million zlotys from 17.1 million zlotys.

Reported net income increased 37.3% from the prior-year period to 2.3 million zlotys, or 3 groszy per share, from 1.7 million zlotys, or 2 groszy per share.

As of Nov. 9, US$1 was equivalent to 3.97 zlotys.