Funespaña SA said its first-half normalized net income amounted to 13 euro cents per share, an increase of 28.4% from 10 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.4 million, a gain of 29.3% from €1.9 million in the prior-year period.

Total revenue decreased 7.7% year over year to €55.1 million from €59.7 million, and total operating expenses decreased 7.4% on an annual basis to €51.5 million from €55.5 million.

Reported net income increased 30.0% from the prior-year period to €3.5 million, or 19 cents per share, from €2.7 million, or 15 cents per share.