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Mallouppas & Papacostas swings to profit in H1

Mallouppas & Papacostas PCL said its first-half normalized net income amounted to €12,090, compared with a loss of €157,210 in the year-earlier period.

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

Total revenue increased 5.7% year over year to €17.2 million from €16.3 million, and total operating expenses rose 5.0% on an annual basis to €17.0 million from €16.2 million.

Reported net income totaled a loss of €184,080, or a loss of 0 cents per share, compared to a loss of €148,660, or a loss of 0 cents per share, in the prior-year period.