Bodegas Bilbaínas SA said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to 44 euro cents per share, a gain of 20.8% from 36 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 €1.2 million, an increase of 21.6% from €1.0 million in the year-earlier period.

Total revenue climbed 6.9% year over year to €9.0 million from €8.4 million, and total operating expenses rose from the prior-year period to €7.2 million from €7.0 million.

Reported net income grew 21.3% on an annual basis to €1.5 million, or 53 cents per share, from €1.2 million, or 44 cents per share.