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Gage Roads Brewing fiscal H1 profit climbs YOY

Gage Roads Brewing Co. Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to A$670,910, a rise from A$289,920 in the year-earlier period.

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

Total revenue decreased 5.6% on an annual basis to A$13.7 million from A$14.5 million, and total operating expenses decreased 11.1% year over year to A$12.3 million from A$13.9 million.

Reported net income grew from the prior-year period to A$731,080, or 0 cents per share, from A$296,210, or 0 cents per share.