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Honkarakenne swings to profit in Q2

Honkarakenne Oyj said its second-quarter normalized net income came to 8 euro cents per share, compared with a loss of 16 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 €375,000, compared with a loss of €812,500 in the year-earlier period.

The normalized profit margin climbed to 3.2% from negative 6.9% in the year-earlier period.

Total revenue came to €11.8 million, compared with €11.7 million in the prior-year period, and total operating expenses declined 13.3% on an annual basis to €11.1 million from €12.8 million.

Reported net income came to €600,000, or 12 cents per share, compared to a loss of €1.1 million, or a loss of 22 cents per share, in the prior-year period.