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Fortuna Entertainment H1 profit climbs 16.8% YOY

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Fortuna Entertainment H1 profit climbs 16.8% YOY

Fortuna Entertainment Group N.V. said its normalized net income for the first half amounted to 9 euro cents per share, an increase of 16.8% from 7 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 €4.4 million, a gain of 16.8% from €3.8 million in the prior-year period.

Total revenue grew 14.2% year over year to €52.6 million from €46.1 million, and total operating expenses rose 13.7% from the prior-year period to €44.6 million from €39.3 million.

Reported net income rose 11.7% on an annual basis to €5.4 million, or 10 cents per share, from €4.8 million, or 9 cents per share.