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AH-Vest swings to profit in fiscal H1

AH-Vest Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 298,170 rand, compared with a loss of 3.7 million rand in the year-earlier period.

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

Total revenue increased 24.8% on an annual basis to 78.2 million rand from 62.7 million rand, and total operating expenses climbed 11.3% year over year to 75.8 million rand from 68.1 million rand.

Reported net income totaled 477,070 rand, or 0 cents per share, compared to a loss of 5.9 million rand, or a loss of 6 cents per share, in the year-earlier period.

As of March 27, US$1 was equivalent to 12.02 rand.