Emperador Inc. said its third-quarter normalized net income was 7 Philippine centavos per share, a decline of 20.5% from 9 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.10 billion pesos, a decline of 15.5% from 1.30 billion pesos in the year-earlier period.

The normalized profit margin declined to 10.1% from 19.1% in the year-earlier period.

Total revenue grew 59.0% on an annual basis to 10.80 billion pesos from 6.79 billion pesos, and total operating expenses rose 91.8% on an annual basis to 9.04 billion pesos from 4.71 billion pesos.

Reported net income decreased from the prior-year period to 1.44 billion pesos, or 9 centavos per share, from 1.51 billion pesos, or 10 centavos per share.

As of Nov. 12, US$1 was equivalent to 47.00 Philippine pesos.