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M.P. Evans Group H1 profit climbs 16.5% YOY

M.P. Evans Group PLC said its normalized net income for the first half came to 8 cents per share, a gain of 16.2% 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 $4.6 million, a gain of 16.5% from $4.0 million in the year-earlier period.

Total revenue decreased 20.2% year over year to $30.4 million from $38.0 million, and total operating expenses decreased 9.9% on an annual basis to $26.6 million from $29.5 million.

Reported net income decreased 15.6% on an annual basis to $5.0 million, or 9 cents per share, from $5.9 million, or 11 cents per share.