Agroliga Group PLC said its first-quarter normalized net income amounted to €650,750, a rise from €36,130 in the prior-year period.

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

The normalized profit margin rose to 14.3% from 1.3% in the year-earlier period.

Total revenue increased 62.2% year over year to €4.6 million from €2.8 million, and total operating expenses grew 25.5% from the prior-year period to €3.3 million from €2.6 million.

Reported net income totaled €1.1 million, compared with €59,000, or 4 cents per share, in the prior-year period.