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Shriro Holdings H2 profit climbs 71.1% YOY

Shriro Holdings Ltd. said its second-half normalized net income was 9 Australian cents per share, an increase of 10.2% 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$8.7 million, a gain of 71.1% from A$5.1 million in the year-earlier period.

Total revenue rose on an annual basis to A$103.2 million from A$99.4 million, and total operating expenses came to A$88.7 million, compared with A$88.2 million in the year-earlier period.

Reported net income rose from the prior-year period to A$10.2 million, or 11 cents per share, from A$4.4 million, or 7 cents per share.

For the year, the company's normalized net income totaled 9 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 12 cents.

EPS declined 9.4% from 10 cents in the prior year.

Normalized net income was A$7.4 million, an increase of 16.6% from A$6.3 million in the prior year.

Full-year total revenue increased on an annual basis to A$186.3 million from A$177.7 million, and total operating expenses rose on an annual basis to A$167.6 million from A$162.8 million.

The company said reported net income increased 23.1% on an annual basis to A$7.1 million, or 9 cents per share, in the full year, from A$5.8 million, or 9 cents per share.