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AB Snaige Q2 profit climbs YOY

AB Snaige said its second-quarter normalized net income was €588,180, a gain from €225,810 in the prior-year period.

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

The normalized profit margin climbed to 5.0% from 1.9% in the year-earlier period.

Total revenue decreased on an annual basis to €11.8 million from €12.0 million, and total operating expenses declined 6.0% on an annual basis to €10.8 million from €11.5 million.

Reported net income grew on an annual basis to €941,090, or 2 cents per share, from €361,290, or 1 cents per share.