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Zaklady Miesne Henryk Kania Q3 profit climbs 36.9% YOY

Zaklady Miesne Henryk Kania Spólka Akcyjna said its third-quarter normalized net income came to 7 groszy per share, a gain of 41.6% from 5 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.9 million zlotys, an increase of 36.9% from 6.5 million zlotys in the prior-year period.

The normalized profit margin increased to 2.9% from 2.7% in the year-earlier period.

Total revenue increased 26.0% on an annual basis to 305.0 million zlotys from 242.0 million zlotys, and total operating expenses increased 26.4% on an annual basis to 288.1 million zlotys from 228.0 million zlotys.

Reported net income grew 30.5% year over year to 10.9 million zlotys, or 9 groszy per share, from 8.3 million zlotys, or 7 groszy per share.

As of Nov. 16, US$1 was equivalent to 3.96 zlotys.