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Just Water International fiscal H1 profit climbs YOY

Just Water International Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to NZ$654,380, a rise from NZ$176,880 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue declined on an annual basis to NZ$7.9 million from NZ$8.2 million, and total operating expenses decreased 7.6% year over year to NZ$6.9 million from NZ$7.5 million.

Reported net income grew year over year to NZ$690,000, or 1 cents per share, from NZ$209,000, or 0 cents per share.

As of Feb. 16, US$1 was equivalent to NZ$1.53.