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Fortuna Entertainment H2 profit climbs 50.4% YOY

Fortuna Entertainment Group N.V. said its normalized net income for the second half amounted to 18 euro cents per share, a gain of 50.4% from 12 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 €9.3 million, a gain of 50.4% from €6.2 million in the year-earlier period.

Total revenue increased 17.2% on an annual basis to €56.7 million from €48.4 million, and total operating expenses climbed 7.9% from the prior-year period to €40.5 million from €37.6 million.

Reported net income increased year over year to €14.7 million, or 28 cents per share, from €7.0 million, or 13 cents per share.

For the year, the company's normalized net income totaled 25 cents per share, a fall from 26 cents per share in the prior year.

Normalized net income was €13.1 million, a decrease from €13.6 million in the prior year.

Full-year total revenue rose 6.0% year over year to €102.8 million from €97.0 million, and total operating expenses increased 8.8% year over year to €79.8 million from €73.4 million.

The company said reported net income rose 22.0% year over year to €19.5 million, or 38 cents per share, in the full year, from €16.0 million, or 31 cents per share.