C.T.O. PCL said its normalized net income for the first half was a loss of €411,380, compared with a loss of €665,310 in the year-earlier period.

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

Total revenue grew 29.3% year over year to €1.3 million from €1.0 million, and total operating expenses fell on an annual basis to €1.9 million from €2.0 million.

Reported net income came to a loss of €772,430, or a loss of 0 cents per share, compared to a loss of €1.9 million, or a loss of 1 cents per share, in the year-earlier period.