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Richoux Group swings to loss in fiscal H1

Richoux Group plc said its normalized net income for the fiscal first half ended July 10 amounted to a loss of £141,880, compared with income of £200,000 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue grew 5.7% on an annual basis to £7.1 million from £6.7 million, and total operating expenses rose 14.5% from the prior-year period to £7.3 million from £6.4 million.

Reported net income came to a loss of £564,740, or a loss of 1 pence per share, compared to income of £281,950, or 0 pence per share, in the year-earlier period.