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Linz Textil H1 profit climbs YOY

Linz Textil Holding AG said its first-half normalized net income was €9.00 per share, a gain from €1.93 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.7 million, an increase from €579,380 in the year-earlier period.

Total revenue totaled €59.8 million, compared with €59.4 million in the prior-year period, and total operating expenses fell on an annual basis to €61.5 million from €64.4 million.

Reported net income rose year over year to €3.7 million, or €12.32 per share, from €514,000, or €1.71 per share.