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Makarony Polskie Q3 profit falls YOY

Makarony Polskie SA said its normalized net income for the third quarter amounted to 11 groszy per share, a decrease of 9.9% from 13 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 1.1 million zlotys, a decline of 10.9% from 1.2 million zlotys in the prior-year period.

The normalized profit margin dropped to 3.5% from 3.6% in the year-earlier period.

Total revenue fell 6.6% year over year to 31.0 million zlotys from 33.2 million zlotys, and total operating expenses declined 6.1% from the prior-year period to 29.2 million zlotys from 31.1 million zlotys.

Reported net income came to 1.4 million zlotys, or 15 groszy per share, compared to 1.4 million zlotys, or 15 groszy per share, in the prior-year period.

As of Nov. 8, US$1 was equivalent to 3.92 zlotys.