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SunRice fiscal H1 profit climbs 23.1% YOY

SunRice said its normalized net income for the fiscal first half ended Oct. 31 amounted to 34 Australian cents per share, an increase of 23.1% from 28 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$19.0 million, an increase of 23.1% from A$15.4 million in the prior-year period.

Total revenue climbed 9.8% on an annual basis to A$606.1 million from A$552.0 million, and total operating expenses increased 8.6% on an annual basis to A$565.2 million from A$520.2 million.

Reported net income rose 40.0% year over year to A$19.5 million, or 35 cents per share, from A$13.9 million, or 25 cents per share.