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Philippos Nakas fiscal Q2 profit climbs YOY

Philippos Nakas SA said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 10 euro cents per share, an increase from 3 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 €605,470, a gain from €183,710 in the prior-year period.

The normalized profit margin increased to 8.7% from 3.2% in the year-earlier period.

Total revenue grew 21.5% on an annual basis to €6.9 million from €5.7 million, and total operating expenses climbed 10.8% year over year to €5.9 million from €5.4 million.

Reported net income rose on an annual basis to €883,110, or 14 cents per share, from €204,330, or 3 cents per share.