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Kulmbacher Brewery H1 profit climbs YOY

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.