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Hoftex Group H1 profit climbs 53.6% YOY

Hoftex Group AG said its normalized net income for the first half was 49 euro cents per share, a gain of 53.6% from 32 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 €2.7 million, an increase of 53.6% from €1.7 million in the year-earlier period.

Total revenue climbed 5.7% on an annual basis to €94.8 million from €89.7 million, and total operating expenses grew year over year to €89.1 million from €85.8 million.

Reported net income increased 56.6% year over year to €4.5 million, or 83 cents per share, from €2.9 million, or 53 cents per share.