AP Eagers Ltd. said its first-half normalized net income was 22 Australian cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS rose 10.5% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$41.8 million, a gain of 13.2% from A$36.9 million in the year-earlier period.

Total revenue rose 12.1% year over year to A$1.84 billion from A$1.64 billion, and total operating expenses grew 12.1% from the prior-year period to A$1.76 billion from A$1.57 billion.

Reported net income rose 10.8% from the prior-year period to A$48.5 million, or 25 cents per share, from A$43.8 million, or 23 cents per share.