Pepees SA said its normalized net income for the second quarter amounted to 2.0 million zlotys, an increase from 239,880 zlotys in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 4.0% from 0.6% in the year-earlier period.

Total revenue grew 24.9% year over year to 49.2 million zlotys from 39.4 million zlotys, and total operating expenses increased 18.7% from the prior-year period to 45.8 million zlotys from 38.6 million zlotys.

Reported net income totaled 1.9 million zlotys, or 2 groszy per share.

As of Aug. 31, US$1 was equivalent to 3.91 zlotys.