Przedsiebiorstwo Handlu Zagranicznego Baltona SA said its third-quarter normalized net income came to 39 groszy per share, an increase of 47.6% from 26 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 3.9 million zlotys, an increase of 33.0% from 2.9 million zlotys in the prior-year period.

The normalized profit margin rose to 2.9% from 2.6% in the year-earlier period.

Total revenue climbed 19.0% on an annual basis to 133.9 million zlotys from 112.5 million zlotys, and total operating expenses grew 19.2% on an annual basis to 125.9 million zlotys from 105.7 million zlotys.

Reported net income grew 43.8% from the prior-year period to 6.6 million zlotys, or 67 groszy per share, from 4.6 million zlotys, or 42 groszy per share.

As of Nov. 12, US$1 was equivalent to 3.93 zlotys.