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Loulis Mills H1 profit climbs 39.4% YOY

Loulis Mills S.A. said its normalized net income for the first half came to 7 euro cents per share, an increase of 39.4% from 5 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, a gain of 39.4% from €859,300 in the year-earlier period.

Total revenue rose on an annual basis to €48.9 million from €47.4 million, and total operating expenses grew from the prior-year period to €47.5 million from €46.5 million.

Reported net income declined 7.2% year over year to €828,980, or 5 cents per share, from €893,630, or 5 cents per share.