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Agroton Public swings to profit in H1

Agroton Public Ltd said its normalized net income for the first half came to 19 cents per share, compared with a loss of 52 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 $3.3 million, compared with a loss of $11.4 million in the year-earlier period.

Total revenue decreased on an annual basis to $17.3 million from $17.9 million, and total operating expenses declined 43.4% on an annual basis to $9.3 million from $16.5 million.

Reported net income totaled $5.2 million, or 30 cents per share, compared to a loss of $18.2 million, or a loss of 84 cents per share, in the year-earlier period.