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Nafpaktos Textile Industry H1 loss narrows YOY

Nafpaktos Textile Industry SA said its normalized net income for the first half was a loss of 1 euro cents per share, compared with a loss of 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €136,290, compared with a loss of €226,460 in the prior-year period.

Total revenue climbed 40.2% on an annual basis to €5.5 million from €3.9 million, and total operating expenses increased 28.5% from the prior-year period to €5.8 million from €4.5 million.

Reported net income came to a loss of €258,890, or a loss of 2 cents per share, compared to a loss of €397,890, or a loss of 3 cents per share, in the prior-year period.