Ruralco Holdings Ltd said its normalized net income for the fiscal first half ended March 31 was 12 Australian cents per share, a gain from 12 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 A$9.8 million, a gain from A$9.5 million in the prior-year period.

Total revenue grew 8.2% year over year to A$803.7 million from A$742.8 million, and total operating expenses grew 8.3% on an annual basis to A$781.9 million from A$721.6 million.

Reported net income increased from the prior-year period to A$10.8 million, or 14 cents per share, from A$10.5 million, or 14 cents per share.