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Novita Q3 profit climbs 13.2% YOY

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Novita Q3 profit climbs 13.2% YOY

Novita SA said its normalized net income for the third quarter was 91 groszy per share, an increase of 13.9% from 80 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 2.3 million zlotys, an increase of 13.2% from 2.0 million zlotys in the year-earlier period.

The normalized profit margin increased to 9.9% from 8.7% in the year-earlier period.

Total revenue declined year over year to 22.8 million zlotys from 23.0 million zlotys, and total operating expenses decreased from the prior-year period to 19.1 million zlotys from 19.7 million zlotys.

Reported net income increased 20.4% on an annual basis to 3.0 million zlotys, or 1.20 zlotys per share, from 2.5 million zlotys, or 99 groszy per share.

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