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Seeka Ltd. H1 profit climbs YOY

Seeka Ltd. said its normalized net income for the first half amounted to 21 New Zealand cents per share, an increase from 5 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$3.3 million, a gain from NZ$701,880 in the prior-year period.

Total revenue increased 32.2% year over year to NZ$104.7 million from NZ$79.2 million, and total operating expenses grew 27.4% from the prior-year period to NZ$98.8 million from NZ$77.5 million.

Reported net income grew from the prior-year period to NZ$3.7 million, or 24 cents per share, from NZ$1.5 million, or 10 cents per share.

As of Aug. 19, US$1 was equivalent to NZ$1.52.