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Sabeton swings to profit in H1

Sabeton SA said its first-half normalized net income was 6 euro cents per share, compared with a loss of 5 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 €217,500, compared with a loss of €164,130 in the prior-year period.

Total revenue rose 10.8% year over year to €32.1 million from €29.0 million, and total operating expenses increased 8.9% on an annual basis to €31.9 million from €29.3 million.

Reported net income came to €343,000, or 10 cents per share, compared to a loss of €113,000, or a loss of 3 cents per share, in the year-earlier period.