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Godfreys Group fiscal H1 profit falls YOY

Godfreys Group Ltd. said its normalized net income for the fiscal first half ended Dec. 25, 2015, amounted to 9 Australian cents per share, a decrease of 48.4% from 18 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$3.7 million, a decline of 29.9% from A$5.3 million in the prior-year period.

Total revenue came to A$90.5 million, compared with A$90.6 million in the prior-year period, and total operating expenses increased 5.8% from the prior-year period to A$86.6 million from A$81.9 million.

Reported net income fell 15.3% on an annual basis to A$3.6 million, or 9 cents per share, from A$4.3 million, or 14 cents per share.