Taste Holdings Ltd. said its normalized net income for the fiscal first half ended Aug. 31 amounted to 3 South African cents per share, a decline of 38.9% from 5 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 6.1 million rand, a decrease of 37.6% from 9.8 million rand in the prior-year period.
Total revenue grew 14.7% year over year to 302.3 million rand from 263.5 million rand, and total operating expenses climbed 17.4% year over year to 288.5 million rand from 245.7 million rand.
Reported net income fell 38.0% from the prior-year period to 7.0 million rand, or 3 cents per share, from 11.3 million rand, or 6 cents per share.
As of Oct. 9, US$1 was equivalent to 11.06 rand.
