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Fabryki Mebli Forte Q3 profit climbs 16.9% YOY

Fabryki Mebli Forte SpA said its third-quarter normalized net income was 58 groszy per share, an increase of 17.0% from 50 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 13.9 million zlotys, a gain of 16.9% from 11.9 million zlotys in the prior-year period.

The normalized profit margin declined to 6.2% from 6.3% in the year-earlier period.

Total revenue rose 18.5% year over year to 224.2 million zlotys from 189.2 million zlotys, and total operating expenses rose 19.0% on an annual basis to 202.3 million zlotys from 170.0 million zlotys.

Reported net income increased 53.0% on an annual basis to 23.4 million zlotys, or 98 groszy per share, from 15.3 million zlotys, or 64 groszy per share.

As of Nov. 12, US$1 was equivalent to 3.93 zlotys.