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Swallowfield swings to profit in fiscal H1

Swallowfield PLC said its normalized net income for the fiscal first half ended Jan. 10 came to £35,000, compared with a loss of £15,000 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue grew on an annual basis to £26.0 million from £25.4 million, and total operating expenses climbed from the prior-year period to £25.9 million from £25.4 million.

Reported net income rose 36.1% year over year to £49,000, or 0 pence per share, from £36,000, or 0 pence per share.