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Abbey PLC fiscal H1 profit climbs 74.6% YOY

Abbey PLC said its normalized net income for the fiscal first half ended Oct. 31 amounted to 86 euro cents per share, a gain of 74.6% from 49 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 €18.5 million, an increase of 74.6% from €10.6 million in the year-earlier period.

Total revenue climbed 54.4% year over year to €112.0 million from €72.5 million, and total operating expenses climbed 47.5% from the prior-year period to €82.6 million from €56.0 million.

Reported net income increased 72.9% on an annual basis to €23.7 million, or €1.10 per share, from €13.7 million, or 64 cents per share.