Gusbourne PLC said its second-half normalized net income came to a loss of 2 Great British pence per share, compared with a loss of 2 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of £378,130, compared with a loss of £352,500 in the year-earlier period.

Total revenue increased 17.9% on an annual basis to £283,000 from £240,000, and total operating expenses climbed 12.2% on an annual basis to £798,000 from £711,000.

Reported net income totaled a loss of £700,000, or a loss of 3 pence per share, compared to a loss of £590,000, or a loss of 4 pence per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 4 pence per share, compared with a loss of 4 pence per share in the prior year.

Normalized net income was a loss of £760,000, compared with a loss of £675,000 in the prior year.

Full-year total revenue increased 9.0% from the prior-year period to £473,000 from £434,000, and total operating expenses grew 12.9% year over year to £1.5 million from £1.3 million.

The company said reported net income totaled a loss of £1.4 million, or a loss of 7 pence per share, in the full year, compared with a loss of £1.1 million, or a loss of 7 pence per share, the prior year.