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Sapmer swings to profit in H1

Sapmer SA said its normalized net income for the first half was €1.06 per share, compared with a loss of 51 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €3.7 million, compared with a loss of €1.8 million in the year-earlier period.

Total revenue climbed 41.3% on an annual basis to €63.8 million from €45.1 million, and total operating expenses rose 22.9% year over year to €56.9 million from €46.3 million.

Reported net income totaled €5.5 million, or €1.57 per share, compared to a loss of €3.5 million, or a loss of 99 cents per share, in the year-earlier period.