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Godfreys Group fiscal H1 profit falls YOY

Godfreys Group Ltd. said its normalized net income for the fiscal first half ended Dec. 26, 2014, amounted to 6 Australian cents per share, a decline of 60.2% from 14 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$1.7 million, a decrease of 58.7% from A$4.0 million in the year-earlier period.

Total revenue climbed on an annual basis to A$90.6 million from A$87.5 million, and total operating expenses grew 9.8% year over year to A$87.0 million from A$79.2 million.

Reported net income declined 33.4% year over year to A$4.3 million, or 14 cents per share, from A$6.4 million, or 22 cents per share.