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Cyprus Cement H1 profit falls YOY

Cyprus Cement PCL said its normalized net income for the first half was €49,460, a decline of 84.5% from €319,950 in the prior-year period.

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

Total revenue decreased 33.6% on an annual basis to €274,800 from €413,810, and total operating expenses fell 7.7% year over year to €824,250 from €892,670.

Reported net income totaled €101,380, or 0 cents per share, compared to a loss of €147,610, or a loss of 0 cents per share, in the year-earlier period.