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Abbey PLC fiscal H2 profit climbs YOY

Abbey PLC said its normalized net income for the fiscal second half ended April 30 was 88 euro cents per share, a gain from 42 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 €19.0 million, an increase from €9.0 million in the prior-year period.

Total revenue increased 49.1% on an annual basis to €99.9 million from €67.0 million, and total operating expenses increased 33.0% from the prior-year period to €70.0 million from €52.6 million.

Reported net income rose on an annual basis to €25.9 million, or €1.20 per share, from €12.9 million, or 60 cents per share.

For the year, the company's normalized net income totaled €1.38 per share, an increase from 64 cents per share in the prior year.

Normalized net income was €29.6 million, a rise from €13.8 million in the prior year.

Full-year total revenue grew 51.0% on an annual basis to €172.5 million from €114.2 million, and total operating expenses rose 34.8% year over year to €126.0 million from €93.4 million.

The company said reported net income grew on an annual basis to €39.6 million, or €1.84 per share, in the full year, from €18.7 million, or 87 cents per share.