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LPP SA profit misses consensus by 16.5% in Q3

LPP SA Capital Group said its third-quarter normalized net income came to 31.93 zlotys per share, compared with the S&P Capital IQ consensus estimate of 38.25 zlotys per share.

EPS fell year over year from 32.67 zlotys.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 57.8 million zlotys, a decrease from 59.1 million zlotys in the year-earlier period.

The normalized profit margin fell to 4.6% from 4.8% in the year-earlier period.

Total revenue increased year over year to 1.26 billion zlotys from 1.23 billion zlotys, and total operating expenses climbed 5.0% year over year to 1.15 billion zlotys from 1.10 billion zlotys.

Reported net income fell on an annual basis to 79.7 million zlotys, or 44.05 zlotys per share, from 81.7 million zlotys, or 45.15 zlotys per share.

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