ForFarmers N.V. said its normalized net income for the first half amounted to 19 euro cents per share, a gain from 19 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 €20.3 million, an increase from €19.9 million in the prior-year period.

Total revenue fell on an annual basis to €1.07 billion from €1.12 billion, and total operating expenses fell on an annual basis to €1.04 billion from €1.09 billion.

Reported net income rose year over year to €25.0 million, or 24 cents per share, from €24.7 million, or 23 cents per share.