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Minoan Group fiscal H1 loss widens 39.1% YOY

Minoan Group Plc said its normalized net income for the fiscal first half ended April 30 came to a loss of £660,000, compared with a loss of £474,380 in the prior-year period.

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

Total revenue climbed 18.9% year over year to £3.5 million from £3.0 million, and total operating expenses climbed 17.4% on an annual basis to £3.9 million from £3.3 million.

Reported net income came to a loss of £1.1 million, or a loss of 1 pence per share, compared to a loss of £759,000, or a loss of 0 pence per share, in the year-earlier period.