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Webster fiscal H1 loss widens YOY

Webster Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, was a loss of 2 Australian cents per share, compared with a loss of 1 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of A$5.5 million, compared with a loss of A$1.9 million in the year-earlier period.

Total revenue increased year over year to A$56.8 million from A$13.2 million, and total operating expenses climbed from the prior-year period to A$72.5 million from A$20.5 million.

Reported net income came to a loss of A$96.8 million, or a loss of 28 cents per share, compared to a loss of A$4.3 million, or a loss of 3 cents per share, in the year-earlier period.