ORGANIC Farma Zdrowia SA said its second-quarter normalized net income was 218,750 zlotys, a decline of 5.9% from 232,500 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 fell to 1.1% from 1.5% in the year-earlier period.

Total revenue increased 24.4% on an annual basis to 19.4 million zlotys from 15.6 million zlotys, and total operating expenses grew 25.5% on an annual basis to 19.1 million zlotys from 15.2 million zlotys.

Reported net income totaled 262,000 zlotys, compared with 322,000 zlotys in the prior-year period.

As of Aug. 7, US$1 was equivalent to 3.83 zlotys.