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Supply Network fiscal H2 profit falls YOY

Supply Network Ltd. said its normalized net income for the fiscal second half ended June 30 was 7 Australian cents per share, a decrease of 8.9% from 8 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 A$2.6 million, a decrease from A$2.7 million in the prior-year period.

Total revenue climbed 5.1% on an annual basis to A$42.9 million from A$40.8 million, and total operating expenses rose 8.3% from the prior-year period to A$39.3 million from A$36.3 million.

Reported net income declined on an annual basis to A$3.0 million, or 8 cents per share, from A$3.1 million, or 9 cents per share.

For the year, the company's normalized net income totaled 14 cents per share, a decrease of 8.0% from 16 cents per share in the prior year.

Normalized net income was A$5.1 million, a fall from A$5.3 million in the prior year.

Full-year total revenue increased 5.1% year over year to A$85.3 million from A$81.2 million, and total operating expenses increased 7.3% year over year to A$77.7 million from A$72.4 million.

The company said reported net income fell on an annual basis to A$5.7 million, or 16 cents per share, in the full year, from A$6.0 million, or 18 cents per share.