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Foley Family Wines fiscal H1 profit climbs YOY

Foley Family Wines Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to NZ$1.4 million, a rise from NZ$368,750 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue increased 12.1% on an annual basis to NZ$17.5 million from NZ$15.6 million, and total operating expenses grew from the prior-year period to NZ$14.9 million from NZ$14.3 million.

Reported net income grew on an annual basis to NZ$1.6 million, or 3 cents per share, from NZ$402,330, or 1 cents per share.

As of Feb. 16, US$1 was equivalent to NZ$1.53.