Fishing Republic PLC said its normalized net income for the second half was £97,410, a decline of 16.7% from £116,870 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue increased 45.2% on an annual basis to £2.3 million from £1.6 million, and total operating expenses climbed 60.3% on an annual basis to £2.1 million from £1.3 million.
Reported net income came to a loss of £153,290, or a loss of 1 pence per share, compared to income of £158,110, or 1 pence per share, in the year-earlier period.
For the year, the company's normalized net income totaled £190,470, an increase from £184,070 in the prior year.
Full-year total revenue increased 21.6% from the prior-year period to £4.1 million from £3.4 million, and total operating expenses increased 25.7% on an annual basis to £3.8 million from £3.0 million.
The company said reported net income came to a loss of £31,460, or a loss of 0 pence per share, in the full year, compared with income of £236,750, or 2 pence per share, the prior year.