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Heritage Brands fiscal H1 profit climbs YOY

Heritage Brands Ltd. said its normalized net income for the fiscal first half ended Jan. 31 came to A$1.8 million, an increase from A$481,210 in the prior-year period.

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

Total revenue increased 63.6% year over year to A$26.4 million from A$16.2 million, and total operating expenses grew 54.2% on an annual basis to A$23.3 million from A$15.1 million.

Reported net income rose from the prior-year period to A$2.9 million, or 0 cents per share, from A$769,940, or 0 cents per share.