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Guy Degrenne swings to profit in fiscal H1

Guy Degrenne SA said its normalized net income for the fiscal first half ended Sept. 30 came to €404,380, compared with a loss of €353,750 in the prior-year period.

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

Total revenue climbed 17.9% on an annual basis to €42.3 million from €35.9 million, and total operating expenses grew 16.1% year over year to €41.7 million from €35.9 million.

Reported net income came to a loss of €1.6 million, or a loss of 2 cents per share, compared to a loss of €2.7 million, or a loss of 30 cents per share, in the prior-year period.