AS Silvano Fashion Group said its second-quarter normalized net income was 7 euro cents per share, an increase of 33.4% from 5 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 €2.8 million, a gain of 39.5% from €2.0 million in the prior-year period.

The normalized profit margin rose to 13.0% from 7.2% in the year-earlier period.

Total revenue decreased 22.3% on an annual basis to €21.4 million from €27.6 million, and total operating expenses declined 32.4% year over year to €15.9 million from €23.6 million.

Reported net income came to €3.3 million, or 8 cents per share, compared to €3.1 million, or 8 cents per share, in the year-earlier period.