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Malteries Franco-Belges fiscal H1 profit climbs YOY

Malteries Franco-Belges Société Anonyme said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to €11.66 per share, an increase from €3.21 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €5.8 million, an increase from €1.6 million in the year-earlier period.

Total revenue increased year over year to €45.2 million from €44.5 million, and total operating expenses declined 6.0% on an annual basis to €41.4 million from €44.1 million.

Reported net income grew on an annual basis to €7.9 million, or €15.97 per share, from €1.9 million, or €3.86 per share.