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Waterco fiscal H1 profit falls YOY

Waterco Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 4 Australian cents per share, a decline of 26.3% from 6 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$1.5 million, a decline of 24.1% from A$1.9 million in the year-earlier period.

Total revenue grew 5.0% on an annual basis to A$43.5 million from A$41.4 million, and total operating expenses grew 7.3% on an annual basis to A$40.3 million from A$37.5 million.

Reported net income decreased 29.6% on an annual basis to A$1.5 million, or 4 cents per share, from A$2.1 million, or 6 cents per share.