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ZPC Otmuchí³w Q3 profit falls YOY

Zaklady Przemyslu Cukierniczego Otmuchów SA said its normalized net income for the third quarter came to 58,130 zlotys, a fall of 95.3% from 1.2 million 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 dropped to negative 28.9% from 6.9% in the year-earlier period.

Total revenue grew 63.8% on an annual basis to 29.5 million zlotys from 18.0 million zlotys, and total operating expenses climbed 74.8% year over year to 29.3 million zlotys from 16.8 million zlotys.

Reported net income came to a loss of 275,000 zlotys, or a loss of 2 groszy per share, compared to income of 1.7 million zlotys, or 14 groszy per share, in the year-earlier period.

As of Nov. 9, US$1 was equivalent to 3.97 zlotys.