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Damf Inwestycje swings to profit in Q3

Damf Inwestycje SA said its third-quarter normalized net income came to 36,840 zlotys, compared with a loss of 89,250 zlotys in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 1.8% from negative 5.2% in the year-earlier period.

Total revenue rose 18.5% year over year to 2.0 million zlotys from 1.7 million zlotys, and total operating expenses grew 8.0% on an annual basis to 2.0 million zlotys from 1.8 million zlotys.

Reported net income came to a loss of 111,860 zlotys, or a loss of 0 groszy per share, compared to income of 3.7 million zlotys, or 9 groszy per share, in the prior-year period.

As of Nov. 10, US$1 was equivalent to 4.02 zlotys.