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Eurosnack Q3 loss narrows YOY

Eurosnack SA said its normalized net income for the third quarter was 47,560 zlotys, compared with a loss of 112,580 zlotys in the prior-year period.

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

The normalized profit margin increased to negative 1.0% from negative 4.1% in the year-earlier period.

Total revenue grew 73.1% on an annual basis to 4.7 million zlotys from 2.7 million zlotys, and total operating expenses grew 64.7% on an annual basis to 4.8 million zlotys from 2.9 million zlotys.

Reported net income came to a loss of 220,710 zlotys, compared with a loss of 180,120 zlotys in the year-earlier period.

As of Nov. 14, US$1 was equivalent to 4.12 zlotys.