Pierre & Vacances SA said its normalized net income for the fiscal first half ended March 31 amounted to a loss of €6.60 per share, compared with a loss of €7.94 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €55.8 million, compared with a loss of €67.1 million in the prior-year period.

Total revenue increased 14.1% year over year to €631.7 million from €553.8 million, and total operating expenses grew 9.6% year over year to €711.9 million from €649.7 million.

Reported net income totaled a loss of €87.2 million, or a loss of €10.33 per share, compared to a loss of €111.5 million, or a loss of €13.20 per share, in the year-earlier period.