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MG International H1 profit climbs 17.0% YOY

MG International said its normalized net income for the first half came to 17 euro cents per share, a gain of 17.0% from 15 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 €743,300, an increase of 17.0% from €635,450 in the year-earlier period.

Total revenue climbed 17.7% on an annual basis to €19.2 million from €16.3 million, and total operating expenses rose 19.3% from the prior-year period to €18.0 million from €15.1 million.

Reported net income grew 11.0% from the prior-year period to €1.2 million, or 29 cents per share, from €1.1 million, or 26 cents per share.