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HanseYachts fiscal H1 loss narrows YOY

HanseYachts AG said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to a loss of 28 euro cents per share, compared with a loss of 46 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 a loss of €3.1 million, compared with a loss of €4.5 million in the year-earlier period.

Total revenue climbed 16.5% year over year to €45.4 million from €38.9 million, and total operating expenses increased 9.3% year over year to €49.4 million from €45.2 million.

Reported net income came to a loss of €4.9 million, or a loss of 44 cents per share, compared to a loss of €7.0 million, or a loss of 73 cents per share, in the year-earlier period.