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Tonkens Agrar fiscal H1 profit falls YOY

Tonkens Agrar AG said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to 16 euro cents per share, a decrease of 63.4% from 43 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €261,310, a decline of 62.9% from €704,910 in the year-earlier period.

Total revenue fell 15.9% on an annual basis to €6.4 million from €7.7 million, and total operating expenses declined 9.0% from the prior-year period to €5.6 million from €6.1 million.

Reported net income declined 62.6% from the prior-year period to €402,610, or 24 cents per share, from €1.1 million, or 65 cents per share.