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Moninger Holding swings to loss in H1

Moninger Holding AG said its normalized net income for the first half amounted to a loss of 4 euro cents per share, compared with 13 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €60,700, compared with income of €201,160 in the year-earlier period.

Total revenue fell 10.7% year over year to €6.8 million from €7.6 million, and total operating expenses fell 5.5% from the prior-year period to €6.9 million from €7.3 million.

Reported net income totaled a loss of €108,110, or a loss of 7 cents per share, compared to income of €315,860, or 20 cents per share, in the year-earlier period.