Creta Farm SA said its first-quarter normalized net income came to a loss of 2 euro cents per share, compared with a loss of 5 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 a loss of €717,130, compared with a loss of €1.4 million in the prior-year period.

The normalized profit margin climbed to negative 3.0% from negative 6.9% in the year-earlier period.

Total revenue grew 16.0% year over year to €23.9 million from €20.6 million, and total operating expenses climbed 12.3% year over year to €23.1 million from €20.6 million.

Reported net income came to a loss of €607,290, or a loss of 2 cents per share, compared to a loss of €2.0 million, or a loss of 7 cents per share, in the year-earlier period.