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Wittchen Q3 profit falls YOY

Wittchen S.A. said its third-quarter normalized net income amounted to 13 groszy per share, a decrease of 58.5% from 32 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 2.4 million zlotys, a decrease of 54.1% from 5.3 million zlotys in the year-earlier period.

The normalized profit margin declined to 6.2% from 12.3% in the year-earlier period.

Total revenue fell 8.3% on an annual basis to 39.3 million zlotys from 42.9 million zlotys, and total operating expenses rose from the prior-year period to 34.7 million zlotys from 34.1 million zlotys.

Reported net income declined 57.5% from the prior-year period to 2.8 million zlotys, or 15 groszy per share, from 6.5 million zlotys, or 39 groszy per share.

As of Nov. 10, US$1 was equivalent to 4.02 zlotys.