Merchant House International Ltd. said its normalized net income for the fiscal first half ended Sept. 30 was 1 Australian cents per share, an increase of 7.8% from 1 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$1.2 million, a gain of 7.7% from A$1.1 million in the year-earlier period.

Total revenue rose 23.4% on an annual basis to A$58.6 million from A$47.5 million, and total operating expenses increased 23.5% year over year to A$56.4 million from A$45.7 million.

Reported net income came to A$1.5 million, or 2 cents per share, compared to A$1.5 million, or 2 cents per share, in the year-earlier period.