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Berentzen-Gruppe swings to profit in H1

Berentzen-Gruppe AG said its normalized net income for the first half was 13 euro cents per share, compared with a loss of 3 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 €1.3 million, compared with a loss of €260,000 in the prior-year period.

Total revenue increased 8.6% year over year to €82.0 million from €75.6 million, and total operating expenses climbed 5.8% from the prior-year period to €78.7 million from €74.4 million.

Reported net income increased 22.5% from the prior-year period to €1.5 million, or 16 cents per share, from €1.2 million, or 12 cents per share.