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Selonda Aquaculture swings to loss in H1

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Selonda Aquaculture swings to loss in H1

Selonda Aquaculture SA said its first-half normalized net income was a loss of €2.1 million, compared with income of €3.0 million in the year-earlier period.

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

Total revenue rose 12.1% on an annual basis to €82.4 million from €73.5 million, and total operating expenses grew 30.8% year over year to €83.8 million from €64.1 million.

Reported net income came to a loss of €3.1 million, or a loss of 1 cents per share, compared to income of €3.5 million, or 2 cents per share, in the prior-year period.