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KEO swings to profit in H1

KEO PLC said its normalized net income for the first half came to 2 euro cents per share, compared with a loss of 1 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €655,000, compared with a loss of €332,500 in the year-earlier period.

Total revenue increased 10.2% year over year to €21.7 million from €19.7 million, and total operating expenses increased on an annual basis to €20.4 million from €19.5 million.

Reported net income totaled €23,000, or 0 cents per share, compared to a loss of €404,000, or a loss of 1 cents per share, in the prior-year period.