Lingotes Especiales S.A. said its first-half normalized net income came to €4.9 million, a rise of 87.2% from €2.6 million in the year-earlier period.

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

Total revenue climbed 29.6% year over year to €49.6 million from €38.3 million, and total operating expenses rose 22.7% from the prior-year period to €41.8 million from €34.1 million.

Reported net income came to €5.8 million, compared with €3.1 million, or 32 cents per share, in the year-earlier period.