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Adairs fiscal H1 profit climbs YOY

Adairs Ltd. said its normalized net income for the fiscal first half ended Dec. 27, 2015, was 7 Australian cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.

EPS increased year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$11.9 million, an increase from A$4.2 million in the year-earlier period.

Total revenue grew 21.5% year over year to A$117.8 million from A$97.0 million, and total operating expenses increased 19.0% year over year to A$97.9 million from A$82.3 million.

Reported net income increased 28.3% from the prior-year period to A$13.3 million, or 8 cents per share, from A$10.3 million, or 3 cents per share.