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Flour Mills C. Sarantopoulos swings to profit in H1

Flour Mills C. Sarantopoulos SA said its first-half normalized net income was €25,190, compared with a loss of €173,400 in the prior-year period.

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

Total revenue increased 9.6% year over year to €8.5 million from €7.7 million, and total operating expenses rose 5.8% on an annual basis to €8.1 million from €7.7 million.

Reported net income came to a loss of €47,550, or a loss of 1 cents per share, compared to a loss of €247,580, or a loss of 6 cents per share, in the year-earlier period.