Browar Czarnków SA said its normalized net income for the third quarter was a loss of 4 groszy per share, compared with a loss of 12 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 a loss of 495,530 zlotys, compared with a loss of 712,800 zlotys in the year-earlier period.

The normalized profit margin rose to negative 14.6% from negative 30.2% in the year-earlier period.

Total revenue climbed 44.0% year over year to 3.4 million zlotys from 2.4 million zlotys, and total operating expenses climbed 23.6% year over year to 4.0 million zlotys from 3.2 million zlotys.

Reported net income came to a loss of 792,850 zlotys, or a loss of 6 groszy per share, compared to a loss of 1.1 million zlotys, or a loss of 18 groszy per share, in the prior-year period.

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