Warehouse Group Ltd. said its normalized net income for the fiscal first half ended Jan. 25 was 9 New Zealand cents per share, a decline of 29.2% from 13 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 NZ$32.0 million, a decrease of 20.9% from NZ$40.5 million in the year-earlier period.
Total revenue grew on an annual basis to NZ$1.45 billion from NZ$1.42 billion, and total operating expenses climbed from the prior-year period to NZ$1.39 billion from NZ$1.35 billion.
Reported net income decreased 26.7% from the prior-year period to NZ$43.3 million, or 12 cents per share, from NZ$59.1 million, or 19 cents per share.
As of March 6, US$1 was equivalent to NZ$1.35.
