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Monnari Trade Q3 loss widens 16.0% YOY

Monnari Trade SA said its normalized net income for the third quarter amounted to a loss of 2 groszy per share, compared with a loss of 2 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 702,500 zlotys, compared with a loss of 605,630 zlotys in the prior-year period.

The normalized profit margin declined to negative 1.5% from negative 1.4% in the year-earlier period.

Total revenue increased 8.2% on an annual basis to 46.5 million zlotys from 43.0 million zlotys, and total operating expenses rose 15.4% year over year to 49.0 million zlotys from 42.5 million zlotys.

Reported net income came to a loss of 563,000 zlotys, or a loss of 2 groszy per share, compared to income of 20.6 million zlotys, or 67 groszy per share, in the prior-year period.

As of Nov. 8, US$1 was equivalent to 3.92 zlotys.