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Zaharni Zavodi Q3 profit climbs YOY

Zaharni Zavodi AD said its normalized net income for the third quarter came to 22 stotinki per share, a gain from 10 stotinki per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.5 million leva, a gain from 1.2 million leva in the year-earlier period.

The normalized profit margin increased to 5.1% from 2.9% in the year-earlier period.

Total revenue grew 21.5% on an annual basis to 48.7 million leva from 40.1 million leva, and total operating expenses increased 16.9% on an annual basis to 44.0 million leva from 37.7 million leva.

Reported net income grew year over year to 4.0 million leva, or 36 stotinki per share, from 1.8 million leva, or 17 stotinki per share.

As of Nov. 30, US$1 was equivalent to 1.85 leva.