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ORGANIC Farma Zdrowia Q4 profit climbs 85.5% YOY

ORGANIC Farma Zdrowia SA said its normalized net income for the fourth quarter amounted to 15 groszy per share, an increase of 85.5% from 8 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 664,540 zlotys, a gain of 85.5% from 358,320 zlotys in the year-earlier period.

The normalized profit margin declined to 1.8% from 1.9% in the year-earlier period.

Total revenue rose 19.7% on an annual basis to 22.3 million zlotys from 18.7 million zlotys, and total operating expenses grew 17.4% on an annual basis to 21.2 million zlotys from 18.1 million zlotys.

Reported net income grew 89.8% year over year to 616,800 zlotys, or 14 groszy per share, from 324,990 zlotys, or 7 groszy per share.

For the year, the company's normalized net income totaled 31 groszy per share, an increase from 4 groszy per share in the prior year.

Normalized net income was 1.4 million zlotys, a gain from 187,700 zlotys in the prior year.

Full-year total revenue grew 24.0% year over year to 80.8 million zlotys from 65.2 million zlotys, and total operating expenses grew 21.7% year over year to 79.0 million zlotys from 64.9 million zlotys.

The company said reported net income came to 1.0 million zlotys, or 23 groszy per share, in the full year, compared with a loss of 15,010 zlotys, or a loss of 0 groszy per share, the prior year.

As of March 24, US$1 was equivalent to 3.82 zlotys.