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G8 Education H2 profit climbs 60.0% YOY

G8 Education Ltd said its second-half normalized net income was 12 Australian cents per share, an increase of 47.0% from 8 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$43.3 million, an increase of 60.0% from A$27.1 million in the year-earlier period.

Total revenue increased 30.1% on an annual basis to A$383.7 million from A$294.9 million, and total operating expenses rose 30.4% on an annual basis to A$289.5 million from A$221.9 million.

Reported net income rose 65.7% year over year to A$60.3 million, or 16 cents per share, from A$36.4 million, or 11 cents per share.

For the year, the company's normalized net income totaled 18 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 25 cents.

EPS rose 43.2% from 13 cents in the prior year.

Normalized net income was A$66.8 million, a rise of 60.2% from A$41.7 million in the prior year.

Full-year total revenue rose 43.0% year over year to A$689.4 million from A$482.1 million, and total operating expenses increased 43.0% on an annual basis to A$542.2 million from A$379.1 million.

The company said reported net income rose 68.0% on an annual basis to A$88.6 million, or 24 cents per share, in the full year, from A$52.7 million, or 16 cents per share.