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Malteries Franco-Belges fiscal H1 profit falls YOY

Malteries Franco-Belges SA said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to €3.21 per share, a decrease of 53.0% from €6.82 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.6 million, a decline of 53.0% from €3.4 million in the year-earlier period.

Total revenue decreased 13.7% year over year to €44.5 million from €51.5 million, and total operating expenses fell 9.1% on an annual basis to €44.1 million from €48.5 million.

Reported net income decreased 56.1% on an annual basis to €1.9 million, or €3.86 per share, from €4.4 million, or €8.79 per share.