Papoutsanis S.A. said its normalized net income for the first half was €84,370, a fall of 27.1% from €115,740 in the year-earlier period.

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

Total revenue climbed 14.9% on an annual basis to €8.9 million from €7.7 million, and total operating expenses grew 15.2% year over year to €8.6 million from €7.5 million.

Reported net income decreased 30.2% year over year to €97,520, or 0 cents per share, from €139,650, or 0 cents per share.