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Tamawood fiscal H1 profit falls YOY

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Tamawood fiscal H1 profit falls YOY

Tamawood Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to 12 Australian cents per share, compared with 12 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$3.0 million, compared with A$3.0 million in the year-earlier period.

Total revenue fell 5.9% on an annual basis to A$46.9 million from A$49.9 million, and total operating expenses declined 6.1% year over year to A$42.3 million from A$45.0 million.

Reported net income grew from the prior-year period to A$3.3 million, or 13 cents per share, from A$3.2 million, or 13 cents per share.