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Lokaty Budowlane Q3 loss widens 34.9% YOY

Lokaty Budowlane SA said its normalized net income for the third quarter was a loss of 1 groszy per share, compared with a loss of 1 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 a loss of 637,020 zlotys, compared with a loss of 472,170 zlotys in the prior-year period.

The normalized profit margin fell to negative 110.0% from negative 88.9% in the year-earlier period.

Total revenue grew 9.0% year over year to 578,940 zlotys from 531,120 zlotys, and total operating expenses totaled 1.1 million zlotys, compared with 1.1 million zlotys in the prior-year period.

Reported net income came to a loss of 1.0 million zlotys, or a loss of 2 groszy per share, compared to a loss of 748,400 zlotys, or a loss of 2 groszy per share, in the year-earlier period.

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