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Bodegas Bilbaí­nas fiscal H1 profit falls YOY

Bodegas Bilbaínas SA said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to 37 euro cents per share, a decline of 31.1% from 54 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 €1.0 million, a decline of 31.3% from €1.5 million in the prior-year period.

Total revenue grew 13.4% on an annual basis to €8.4 million from €7.4 million, and total operating expenses rose 31.7% on an annual basis to €7.0 million from €5.3 million.

Reported net income decreased 29.2% from the prior-year period to €1.2 million, or 44 cents per share, from €1.7 million, or 62 cents per share.