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Crookes Brothers fiscal H1 profit falls YOY

Crookes Brothers Ltd. said its normalized net income for the fiscal first half ended Sept. 30 was 2.29 rand per share, a decline of 23.0% from 2.97 rand per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 29.2 million rand, a decrease of 22.3% from 37.6 million rand in the year-earlier period.

Total revenue climbed 16.3% year over year to 310.4 million rand from 266.9 million rand, and total operating expenses climbed 27.7% from the prior-year period to 260.0 million rand from 203.6 million rand.

Reported net income fell 78.6% on an annual basis to 8.4 million rand, or 66 cents per share, from 39.5 million rand, or 3.12 rand per share.

As of Dec. 2, US$1 was equivalent to 11.13 rand.