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Stelios Kanakis H1 profit climbs 17.9% YOY

Stelios Kanakis Industrial & Commercial SA said its first-half normalized net income was 10 euro cents per share, an increase of 17.9% from 9 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 €766,730, a gain of 17.9% from €650,560 in the prior-year period.

Total revenue totaled €8.6 million, compared with €8.7 million in the prior-year period, and total operating expenses declined on an annual basis to €7.4 million from €7.7 million.

Reported net income rose 21.6% year over year to €859,410, or 11 cents per share, from €706,850, or 9 cents per share.