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Wulff-Yhtiöt swings to profit in Q2

Wulff-Yhtiöt Oyj said its second-quarter normalized net income was €186,130, compared with a loss of €57,880 in the prior-year period.

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

The normalized profit margin increased to 1.3% from negative 0.4% in the year-earlier period.

Total revenue fell 10.3% year over year to €14.6 million from €16.3 million, and total operating expenses declined 11.9% from the prior-year period to €14.4 million from €16.3 million.

Reported net income came to €280,000, or 4 cents per share, compared to a loss of €796,000, or a loss of 12 cents per share, in the year-earlier period.