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Shriro Holdings swings to loss in H1

Shriro Holdings Ltd. said its normalized net income for the first half came to a loss of 2 Australian cents per share, compared with 2 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 loss of A$1.3 million, compared with income of A$1.2 million in the prior-year period.

Total revenue rose 6.1% year over year to A$83.1 million from A$78.3 million, and total operating expenses climbed 5.8% on an annual basis to A$78.9 million from A$74.6 million.

Reported net income totaled a loss of A$3.1 million, or a loss of 5 cents per share, compared to income of A$1.4 million, or 2 cents per share, in the prior-year period.