Ledo d.d. said its third-quarter normalized net income was 99.8 million kuna, an increase of 10.0% from 90.7 million kuna 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 12.7% from 10.8% in the year-earlier period.

Total revenue fell year over year to 831.5 million kuna from 842.0 million kuna, and total operating expenses declined from the prior-year period to 679.8 million kuna from 702.2 million kuna.

Reported net income totaled 148.9 million kuna, compared with 134.6 million kuna, or 428.75 kuna per share, in the year-earlier period.

As of Oct. 31, US$1 was equivalent to 6.85 kuna.