AS Baltika said its second-quarter normalized net income came to €220,000, a rise from €80,000 in the prior-year period.

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

The normalized profit margin rose to 1.9% from 0.7% in the year-earlier period.

Total revenue declined on an annual basis to €11.8 million from €12.1 million, and total operating expenses fell year over year to €11.3 million from €11.8 million.

Reported net income grew 77.7% year over year to €398,000, or 1 cents per share, from €224,000, or 0 cents per share.