L.D.C. S.A. said its normalized net income for the fiscal first half ended Aug. 31 was €3.11 per share, an increase of 9.2% from €2.85 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €51.6 million, a gain of 12.3% from €46.0 million in the prior-year period.

Total revenue increased 15.7% year over year to €1.68 billion from €1.45 billion, and total operating expenses grew 15.7% on an annual basis to €1.60 billion from €1.38 billion.

Reported net income grew 23.9% from the prior-year period to €57.2 million, or €3.44 per share, from €46.2 million, or €2.86 per share.