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Wojas swings to loss in Q3

Wojas SA said its third-quarter normalized net income was a loss of 7 groszy per share, compared with 6 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 a loss of 945,000 zlotys, compared with income of 785,000 zlotys in the prior-year period.

The normalized profit margin dropped to negative 2.0% from 1.6% in the year-earlier period.

Total revenue fell on an annual basis to 48.0 million zlotys from 49.7 million zlotys, and total operating expenses climbed on an annual basis to 49.1 million zlotys from 48.0 million zlotys.

Reported net income came to a loss of 1.7 million zlotys, or a loss of 14 groszy per share, compared to income of 770,000 zlotys, or 6 groszy per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to 3.95 zlotys.