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Grand Harbour Marina H2 profit climbs 32.6% YOY

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Grand Harbour Marina H2 profit climbs 32.6% YOY

Grand Harbour Marina p.l.c said its normalized net income for the second half was €238,750, a rise of 32.6% from €180,000 in the prior-year period.

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

Total revenue increased 5.4% year over year to €1.9 million from €1.8 million, and total operating expenses declined from the prior-year period to €1.4 million from €1.4 million.

Reported net income increased 14.4% year over year to €238,000, or 1 cents per share, from €208,000.

For the year, the company's normalized net income totaled €289,380, a gain of 52.3% from €190,000 in the prior year.

Full-year total revenue increased 9.5% from the prior-year period to €3.7 million from €3.4 million, and total operating expenses grew year over year to €2.7 million from €2.6 million.

The company said reported net income increased 18.2% year over year to €201,000, or 1 cents per share, in the full year, from €170,000, or 1 cents per share.