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Bapcor fiscal H2 profit climbs YOY

Bapcor Ltd. said its normalized net income for the fiscal second half ended June 30 amounted to 7 Australian cents per share, an increase from 2 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$10.9 million, a gain from A$2.6 million in the prior-year period.

Total revenue increased 10.0% on an annual basis to A$190.3 million from A$173.0 million, and total operating expenses increased 8.9% from the prior-year period to A$171.2 million from A$157.2 million.

Reported net income totaled A$8.7 million, or 5 cents per share, compared to a loss of A$763,480, or a loss of 1 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 13 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 14 cents.

EPS rose 69.5% from 7 cents in the prior year.

Normalized net income was A$20.6 million, a rise from A$7.3 million in the prior year.

Full-year total revenue rose 9.9% year over year to A$375.3 million from A$341.6 million, and total operating expenses increased 9.5% year over year to A$338.9 million from A$309.6 million.

The company said reported net income rose year over year to A$19.5 million, or 12 cents per share, in the full year, from A$1.2 million, or 1 cents per share.