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SFCMC fiscal H1 loss narrows YOY

Société Fermière du Casino Municipal de Cannes said its normalized net income for the fiscal first half ended April 30 amounted to a loss of €19.16 per share, compared with a loss of €20.86 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €3.4 million, compared with a loss of €3.7 million in the year-earlier period.

Total revenue climbed on an annual basis to €32.2 million from €31.5 million, and total operating expenses came to €37.7 million, compared with €37.4 million in the year-earlier period.

Reported net income totaled a loss of €3.4 million, or a loss of €19.38 per share, compared to a loss of €3.7 million, or a loss of €21.40 per share, in the prior-year period.