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Briscoe Group fiscal H2 profit climbs 6.5% YOY

Briscoe Group Ltd said its normalized net income for the fiscal second half ended Jan. 25 amounted to 8 New Zealand cents per share, an increase of 5.8% from 7 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 NZ$17.4 million, a gain of 6.5% from NZ$16.3 million in the prior-year period.

Total revenue rose on an annual basis to NZ$275.6 million from NZ$266.2 million, and total operating expenses rose from the prior-year period to NZ$248.7 million from NZ$240.9 million.

Reported net income increased 11.9% on an annual basis to NZ$20.9 million, or 9 cents per share, from NZ$18.7 million, or 8 cents per share.

For the year, the company's normalized net income totaled 15 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 18 cents.

EPS rose 13.4% from 13 cents in the prior year.

Normalized net income was NZ$33.5 million, an increase of 14.1% from NZ$29.3 million in the prior year.

Full-year total revenue increased year over year to NZ$507.1 million from NZ$483.6 million, and total operating expenses increased year over year to NZ$455.3 million from NZ$438.3 million.

The company said reported net income grew 17.1% year over year to NZ$39.4 million, or 18 cents per share, in the full year, from NZ$33.6 million, or 15 cents per share.

As of April 2, US$1 was equivalent to NZ$1.33.