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Fountaine Pajot swings to profit in fiscal H1

Fountaine Pajot SA said its normalized net income for the fiscal first half ended Feb. 28 came to 60 euro cents per share, compared with a loss of 42 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 €999,190, compared with a loss of €697,060 in the year-earlier period.

Total revenue increased 41.6% year over year to €23.1 million from €16.3 million, and total operating expenses rose 24.8% on an annual basis to €21.5 million from €17.2 million.

Reported net income came to €1.4 million, or 82 cents per share, compared to a loss of €310,690, or a loss of 19 cents per share, in the prior-year period.