Italtile Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 30 South African cents per share, an increase of 24.7% from 24 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 281.1 million rand, a gain of 23.4% from 227.9 million rand in the year-earlier period.
Total revenue increased 17.4% year over year to 1.61 billion rand from 1.37 billion rand, and total operating expenses grew 16.3% on an annual basis to 1.16 billion rand from 1.00 billion rand.
Reported net income grew 28.7% year over year to 338.0 million rand, or 36 cents per share, from 262.5 million rand, or 28 cents per share.
As of Feb. 16, US$1 was equivalent to 11.65 rand.
