Monnari Trade SA said its normalized net income for the second quarter was 18 groszy per share, a decrease of 28.3% from 26 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 5.6 million zlotys, a decline of 28.3% from 7.9 million zlotys in the prior-year period.

The normalized profit margin dropped to 9.8% from 15.2% in the year-earlier period.

Total revenue rose 11.0% on an annual basis to 57.4 million zlotys from 51.7 million zlotys, and total operating expenses rose 23.4% on an annual basis to 50.0 million zlotys from 40.5 million zlotys.

Reported net income fell 13.7% from the prior-year period to 8.8 million zlotys, or 29 groszy per share, from 10.2 million zlotys, or 33 groszy per share.

As of Aug. 24, US$1 was equivalent to 3.83 zlotys.