Stademos Hotels PLC said its normalized net income for the first half was €613,780, a rise from €129,090 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue grew 17.2% on an annual basis to €12.4 million from €10.6 million, and total operating expenses rose 11.3% year over year to €10.3 million from €9.2 million.

Reported net income grew on an annual basis to €824,570, or 2 cents per share, from €136,630, or 0 cents per share.