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Wolfstrike Rentals fiscal H2 profit climbs 81.5% YOY

Wolfstrike Rentals Group Ltd. said its normalized net income for the fiscal second half ended March 31 was NZ$300,630, a rise of 81.5% from NZ$165,670 in the year-earlier period.

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

Total revenue rose 42.8% on an annual basis to NZ$1.2 million from NZ$834,000, and total operating expenses increased 23.1% year over year to NZ$700,560 from NZ$568,930.

Reported net income increased 89.9% on an annual basis to NZ$481,000, or 2 cents per share, from NZ$253,300, or 1 cents per share.

For the year, the company's normalized net income totaled 2 cents per share, an increase of 35.1% from 1 cents per share in the prior year.

Normalized net income was NZ$387,510, a rise of 49.6% from NZ$259,000 in the prior year.

Full-year total revenue grew 30.8% on an annual basis to NZ$2.0 million from NZ$1.5 million, and total operating expenses rose 20.4% on an annual basis to NZ$1.3 million from NZ$1.1 million.

The company said reported net income grew 85.0% year over year to NZ$620,010, or 2 cents per share, in the full year, from NZ$335,060, or 1 cents per share.

As of July 14, US$1 was equivalent to NZ$1.49.