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Supply Network fiscal H1 profit falls YOY

Supply Network Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, was 5 Australian cents per share, a decline of 27.2% from 7 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$2.1 million, a decrease of 14.5% from A$2.5 million in the prior-year period.

Total revenue increased year over year to A$43.6 million from A$42.4 million, and total operating expenses climbed from the prior-year period to A$40.1 million from A$38.4 million.

Reported net income decreased 14.5% year over year to A$2.4 million, or 6 cents per share, from A$2.8 million, or 8 cents per share.