Makarony Polskie SA said its third-quarter normalized net income came to 13 groszy per share, an increase of 21.5% from 10 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 1.2 million zlotys, a gain of 25.7% from 961,250 zlotys in the prior-year period.

The normalized profit margin increased to 3.6% from 3.4% in the year-earlier period.

Total revenue increased 16.8% on an annual basis to 33.2 million zlotys from 28.4 million zlotys, and total operating expenses grew 17.0% from the prior-year period to 31.1 million zlotys from 26.6 million zlotys.

Reported net income grew 19.3% year over year to 1.4 million zlotys, or 15 groszy per share, from 1.2 million zlotys, or 13 groszy per share.

As of Nov. 16, US$1 was equivalent to 3.96 zlotys.