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Sarantis Q2 profit falls YOY

Gr. Sarantis SA said its second-quarter normalized net income came to 7 euro cents per share, a decrease of 6.3% from 8 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 €2.6 million, a decrease of 6.4% from €2.8 million in the year-earlier period.

Total revenue rose 10.1% year over year to €77.0 million from €70.0 million, and total operating expenses grew 10.7% on an annual basis to €72.2 million from €65.2 million.

Reported net income grew from the prior-year period to €3.3 million, or 9 cents per share, from €3.1 million, or 9 cents per share.