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Kip McGrath Education Centres fiscal H1 profit climbs YOY

Kip McGrath Education Centres Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to A$411,250, a gain from A$143,130 in the year-earlier period.

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

Total revenue increased 31.4% on an annual basis to A$7.5 million from A$5.7 million, and total operating expenses climbed 26.6% from the prior-year period to A$6.8 million from A$5.4 million.

Reported net income rose from the prior-year period to A$472,860, or 1 cents per share, from A$144,720, or 0 cents per share.