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Australian Dairy Farms Group swings to profit in fiscal H1

Australian Dairy Farms Group said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to A$722,870, compared with a loss of A$45,430 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue grew year over year to A$690,510 from A$1,780, and total operating expenses increased year over year to A$949,460 from A$74,460.

Reported net income came to A$75,640, or 0 cents per share, compared to a loss of A$72,680, or a loss of 0 cents per share, in the year-earlier period.