Kulmbacher Brauerei AG said its normalized net income for the first half came to 55 euro cents per share, compared with 55 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 €1.9 million, compared with €1.8 million in the year-earlier period.

Total revenue decreased on an annual basis to €104.6 million from €106.7 million, and total operating expenses decreased from the prior-year period to €101.3 million from €103.4 million.

Reported net income grew year over year to €2.1 million, or 63 cents per share, from €2.1 million, or 61 cents per share.