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Royal Highgate H2 loss widens YOY

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Royal Highgate H2 loss widens YOY

Royal Highgate Public Company Ltd said its second-half normalized net income came to a loss of €346,090, compared with a loss of €116,810 in the year-earlier period.

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

Total revenue climbed 51.3% year over year to €9.8 million from €6.5 million, and total operating expenses climbed 55.0% from the prior-year period to €10.4 million from €6.7 million.

Reported net income came to a loss of €563,220, or a loss of 2 cents per share, compared to a loss of €196,080, or a loss of 1 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled €437,740, compared with a loss of €-48,890 in the prior year.

Full-year total revenue increased 24.7% from the prior-year period to €16.4 million from €13.1 million, and total operating expenses rose 29.0% year over year to €17.1 million from €13.2 million.

The company said reported net income came to a loss of €713,700, or a loss of 2 cents per share, in the full year, compared with a loss of €95,540, or a loss of 0 cents per share, the prior year.