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Findel swings to profit in fiscal H1

Findel PLC said its normalized net income for the fiscal first half ended Sept. 26 amounted to £915,000, compared with a loss of £266,880 in the year-earlier period.

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

Total revenue came to £244.1 million, compared with £243.6 million in the year-earlier period, and total operating expenses came to £237.8 million, compared with £239.2 million in the prior-year period.

Reported net income came to a loss of £14.4 million, or a loss of 17 pence per share, compared to a loss of £2.5 million, or a loss of 3 pence per share, in the prior-year period.