Wavestone announced audited consolidated earnings results for the six months ended September 30, 2016. For the period, the company reported revenues of EUR 162.0 million against EUR 91.4 million a year ago. Operating income on ordinary activities was EUR 15.8 million against EUR 9.4 million a year ago. Operating profit was EUR 15.2 million against EUR 9.1 million a year ago. Group share of net income was EUR 7.7 million against EUR 5.2 million a year ago. Cost of net financial debt was EUR 1,123,000 against EUR 93,000 a year ago. Pre-tax income was EUR 13,555,000 against EUR 8,901,000 a year ago. Group share of diluted net profit per share was EUR 1.56 against EUR 1.06 a year ago. Net cash flow used in operations was EUR 7,244,000 compared to EUR 108,000 a year ago. Intangible and fixed asset acquisitions were EUR 4,010,000 compared to EUR 679,000 a year ago.

As concerns fiscal 2016/17, even if the subdued performances of Kurt Salmon European activities could affect the group's results, Wavestone confirms its 2016/17 full-year objectives: a growth of over 45% in consolidated revenues to over EUR 340 million and an operating income on ordinary activities of more than EUR 34 million (implying a double-digit EBIT).