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Freedom Foods fiscal H1 profit falls YOY

Freedom Foods Group Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to 1 Australian cents per share, a decline of 24.5% from 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$2.1 million, a decline of 19.8% from A$2.7 million in the year-earlier period.

Total revenue climbed 21.0% year over year to A$54.1 million from A$44.7 million, and total operating expenses increased 22.9% from the prior-year period to A$50.5 million from A$41.1 million.

Reported net income declined 57.6% on an annual basis to A$23.4 million, or 14 cents per share, from A$55.2 million, or 35 cents per share.