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Mitsides H1 loss narrows YOY

Mitsides PCL said its first-half normalized net income amounted to a loss of 2 euro cents per share, compared with a loss of 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €188,110, compared with a loss of €436,910 in the prior-year period.

Total revenue decreased on an annual basis to €17.6 million from €18.2 million, and total operating expenses declined 5.6% from the prior-year period to €17.4 million from €18.4 million.

Reported net income totaled a loss of €339,250, or a loss of 4 cents per share, compared to a loss of €665,840, or a loss of 8 cents per share, in the year-earlier period.