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Distil fiscal H2 loss narrows YOY

Distil PLC said its normalized net income for the fiscal second half ended March 31 was a loss of £56,880, compared with a loss of £101,880 in the prior-year period.

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

Total revenue declined 65.5% year over year to £386,000 from £1.1 million, and total operating expenses fell 62.6% from the prior-year period to £477,000 from £1.3 million.

Reported net income came to a loss of £91,000, or a loss of 0 pence per share, compared to a loss of £163,000, or a loss of 0 pence per share, in the prior-year period.

For the year, the company's normalized net income totaled £180,630, compared with a loss of £-245,000 in the prior year.

Full-year total revenue decreased 72.3% year over year to £666,000 from £2.4 million, and total operating expenses fell 65.7% year over year to £952,000 from £2.8 million.

The company said reported net income totaled a loss of £289,000, or a loss of 0 pence per share, in the full year, compared with a loss of £392,000, or a loss of 0 pence per share, the prior year.