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Pankl Racing H1 profit climbs 21.3% YOY

Pankl Racing Systems AG said its first-half normalized net income amounted to €1.29 per share, an increase of 21.3% from €1.06 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €4.1 million, a gain of 21.3% from €3.3 million in the year-earlier period.

Total revenue rose 8.0% on an annual basis to €95.4 million from €88.3 million, and total operating expenses increased 7.0% year over year to €87.4 million from €81.6 million.

Reported net income grew 30.3% from the prior-year period to €5.6 million, or €1.77 per share, from €4.3 million, or €1.36 per share.