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Delegat Group fiscal H1 profit falls YOY

Delegat Group Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 5 New Zealand cents per share, a decline of 61.0% from 12 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 NZ$4.9 million, a decline of 61.0% from NZ$12.6 million in the year-earlier period.

Total revenue climbed on an annual basis to NZ$125.6 million from NZ$121.2 million, and total operating expenses increased 14.7% year over year to NZ$115.8 million from NZ$100.9 million.

Reported net income fell 45.0% on an annual basis to NZ$9.8 million, or 10 cents per share, from NZ$17.8 million, or 18 cents per share.

As of March 25, US$1 was equivalent to NZ$1.31.