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Fleetwood fiscal H1 profit falls YOY

Fleetwood Corp. Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 6 Australian cents per share, a decline of 8.7% from 6 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$3.5 million, a decrease of 8.8% from A$3.8 million in the prior-year period.

Total revenue fell 17.5% year over year to A$157.0 million from A$190.3 million, and total operating expenses decreased 18.5% on an annual basis to A$149.5 million from A$183.4 million.

Reported net income fell 7.3% from the prior-year period to A$3.9 million, or 6 cents per share, from A$4.2 million, or 7 cents per share.