SA Catana Group said its normalized net income for the fiscal first half ended Feb. 29 came to a loss of 6 euro cents per share, compared with a loss of 4 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 a loss of €1.5 million, compared with a loss of €892,750 in the prior-year period.

Total revenue decreased 32.1% year over year to €10.7 million from €15.8 million, and total operating expenses declined 24.1% on an annual basis to €12.9 million from €17.0 million.

Reported net income totaled a loss of €2.3 million, or a loss of 9 cents per share, compared to a loss of €1.5 million, or a loss of 6 cents per share, in the year-earlier period.