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Aalborg Boldspilklub A/S swings to profit in H1

Aalborg Boldspilklub A/S said its normalized net income for the first half came to 6.8 million kroner, compared with a loss of 251,250 kroner in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue fell on an annual basis to 38.4 million kroner from 38.8 million kroner, and total operating expenses declined 29.6% from the prior-year period to 27.6 million kroner from 39.2 million kroner.

Reported net income came to 10.9 million kroner, or 32.00 kroner per share, compared to a loss of 402,000 kroner in the year-earlier period.

As of Aug. 23, US$1 was equivalent to 6.58 Danish kroner.