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Globe International fiscal H1 profit climbs 29.9% YOY

Globe International Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 4 Australian cents per share, a gain of 30.2% from 3 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$1.5 million, a gain of 29.9% from A$1.1 million in the prior-year period.

Total revenue grew 28.4% year over year to A$66.2 million from A$51.6 million, and total operating expenses increased 28.3% year over year to A$63.8 million from A$49.7 million.

Reported net income increased 93.4% from the prior-year period to A$1.6 million, or 4 cents per share, from A$818,000, or 2 cents per share.