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PWR Holdings fiscal H1 profit falls YOY

PWR Holdings Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to 3 Australian cents per share, a decrease of 26.3% from 4 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$2.8 million, a decline of 22.8% from A$3.6 million in the prior-year period.

Total revenue rose 45.2% year over year to A$18.5 million from A$12.7 million, and total operating expenses grew 88.6% year over year to A$13.8 million from A$7.3 million.

Reported net income fell 70.7% from the prior-year period to A$1.2 million, or 1 cents per share, from A$4.2 million, or 5 cents per share.