Waterco Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to 5 Australian cents per share, a gain of 29.8% from 4 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$2.0 million, an increase of 33.3% from A$1.5 million in the year-earlier period.

Total revenue rose 6.2% on an annual basis to A$46.2 million from A$43.5 million, and total operating expenses rose 5.0% year over year to A$42.3 million from A$40.3 million.

Reported net income rose 45.3% on an annual basis to A$2.1 million, or 6 cents per share, from A$1.5 million, or 4 cents per share.