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Reject Shop fiscal H1 profit falls YOY

Reject Shop Ltd. said its normalized net income for the fiscal first half ended Dec. 28, 2014, was 39 Australian cents per share, a decline of 24.2% from 52 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$11.3 million, a decline of 24.7% from A$15.1 million in the year-earlier period.

Total revenue increased year over year to A$402.2 million from A$385.4 million, and total operating expenses grew 6.2% on an annual basis to A$383.2 million from A$360.8 million.

Reported net income declined 24.1% on an annual basis to A$12.8 million, or 44 cents per share, from A$16.9 million, or 58 cents per share.