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Reef Casino Trust H1 profit climbs 47.5% YOY

Reef Casino Trust said its normalized net income for the first half came to A$2.0 million, a gain of 47.5% from A$1.4 million in the year-earlier period.

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

Total revenue rose 17.9% on an annual basis to A$11.5 million from A$9.8 million, and total operating expenses fell year over year to A$5.0 million from A$5.3 million.

Reported net income totaled A$3.2 million, compared with A$2.2 million in the year-earlier period.