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Merchant House International posts fiscal H2 loss

Merchant House International Ltd. said its normalized net income for the fiscal second half ended March 31 came to a loss of A$820,000.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue came to A$38.7 million, and total operating expenses totaled A$40.0 million.

Reported net income totaled a loss of A$3.4 million, or a loss of 4 cents per share.

For the year, the company's normalized net income totaled A$236,880, a decrease of 79.8% from A$1.2 million in the prior year.

Full-year total revenue rose from the prior-year period to A$86.2 million from A$84.3 million, and total operating expenses rose on an annual basis to A$85.6 million from A$82.1 million.

The company said reported net income came to a loss of A$1.9 million, or a loss of 2 cents per share, in the full year, compared with income of A$10.0 million, or 11 cents per share, the prior year.