AVI Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 2.17 rand per share, compared with the S&P Capital IQ consensus estimate of 2.55 rand per share.
EPS climbed 11.4% year over year from 1.95 rand.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 705.3 million rand, a gain of 12.6% from 626.1 million rand in the year-earlier period.
Total revenue climbed 11.1% on an annual basis to 6.00 billion rand from 5.40 billion rand, and total operating expenses increased 10.7% from the prior-year period to 4.85 billion rand from 4.38 billion rand.
Reported net income declined year over year to 803.3 million rand, or 2.48 rand per share, from 839.6 million rand, or 2.62 rand per share.
As of March 9, US$1 was equivalent to 12.09 rand.
