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Colonial Motor fiscal H1 profit falls YOY

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Colonial Motor fiscal H1 profit falls YOY

Colonial Motor Co. Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 23 New Zealand cents per share, a decrease from 23 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 NZ$7.4 million, a decrease from NZ$7.6 million in the year-earlier period.

Total revenue climbed 15.3% on an annual basis to NZ$410.4 million from NZ$356.1 million, and total operating expenses climbed 15.7% year over year to NZ$395.1 million from NZ$341.5 million.

Reported net income decreased from the prior-year period to NZ$8.4 million, or 26 cents per share, from NZ$8.7 million, or 27 cents per share.

As of Feb. 17, US$1 was equivalent to NZ$1.33.