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.