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Yalco SA H1 loss widens 22.1% YOY

Yalco-Socrates D. Constantinou & Son SA said its normalized net income for the first half came to a loss of 6 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 €818,020, compared with a loss of €669,700 in the year-earlier period.

Total revenue declined on an annual basis to €13.0 million from €13.5 million, and total operating expenses declined on an annual basis to €13.1 million from €13.3 million.

Reported net income came to a loss of €1.4 million, or a loss of 10 cents per share, compared to a loss of €1.1 million, or a loss of 8 cents per share, in the year-earlier period.