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Sprue Aegis H2 profit falls YOY

FireAngel Safety Technology Group plc said its second-half normalized net income came to 5 Great British pence per share, a decrease of 53.5% from 10 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 £2.2 million, a decrease of 53.5% from £4.7 million in the prior-year period.

Total revenue fell 23.8% year over year to £31.8 million from £41.8 million, and total operating expenses declined 17.2% from the prior-year period to £28.4 million from £34.3 million.

Reported net income totaled a loss of £1.7 million, or a loss of 4 pence per share, compared to income of £5.7 million, or 12 pence per share, in the prior-year period.

For the year, the company's normalized net income totaled 17 pence per share, a gain of 16.1% from 14 pence per share in the prior year.

Normalized net income was £7.7 million, a gain of 20.8% from £6.4 million in the prior year.

Full-year total revenue rose 34.6% year over year to £88.3 million from £65.6 million, and total operating expenses rose 37.2% year over year to £76.1 million from £55.4 million.

The company said reported net income declined 22.1% year over year to £6.0 million, or 13 pence per share, in the full year, from £7.7 million, or 18 pence per share.