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Thorn Group fiscal H1 profit climbs 13.4% YOY

Thorn Group Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to 9 Australian cents per share, a gain of 12.7% from 8 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$13.8 million, an increase of 13.4% from A$12.1 million in the prior-year period.

Total revenue rose 33.2% year over year to A$149.9 million from A$112.5 million, and total operating expenses rose 37.1% year over year to A$126.4 million from A$92.2 million.

Reported net income increased 13.9% from the prior-year period to A$15.2 million, or 10 cents per share, from A$13.3 million, or 9 cents per share.