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Gazal Corp. fiscal H1 profit climbs 65.8% YOY

Gazal Corp. Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 3 Australian cents per share, an increase of 65.9% from 2 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$1.9 million, an increase of 65.8% from A$1.1 million in the year-earlier period.

Total revenue climbed 9.2% on an annual basis to A$114.1 million from A$104.5 million, and total operating expenses grew 8.5% on an annual basis to A$110.3 million from A$101.7 million.

Reported net income increased 79.9% from the prior-year period to A$2.6 million, or 4 cents per share, from A$1.4 million, or 3 cents per share.