Elve SA said its normalized net income for the first half amounted to 13 euro cents per share, a gain of 67.4% 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 €432,600, an increase of 67.4% from €258,400 in the year-earlier period.

Total revenue increased 19.1% year over year to €11.3 million from €9.5 million, and total operating expenses increased 15.0% on an annual basis to €10.6 million from €9.2 million.

Reported net income came to €280,270, or 8 cents per share, compared to a loss of €114,460, or a loss of 3 cents per share, in the year-earlier period.