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Rovita swings to profit in Q3

Rovita SA said its third-quarter normalized net income was 1 groszy per share, compared with a loss of 4 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 164,530 zlotys, compared with a loss of 523,030 zlotys in the prior-year period.

The normalized profit margin increased to 0.3% from negative 1.3% in the year-earlier period.

Total revenue climbed 59.3% year over year to 62.9 million zlotys from 39.5 million zlotys, and total operating expenses grew 55.8% from the prior-year period to 62.4 million zlotys from 40.1 million zlotys.

Reported net income totaled 260,650 zlotys, or 2 groszy per share, compared to a loss of 836,840 zlotys, or a loss of 6 groszy per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to 3.95 zlotys.