Imperial Holdings Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 6.04 rand per share, a decline of 11.3% from 6.80 rand per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.19 billion rand, a decline of 12.7% from 1.37 billion rand in the year-earlier period.
Total revenue increased 9.5% year over year to 56.23 billion rand from 51.36 billion rand, and total operating expenses grew 10.8% from the prior-year period to 53.57 billion rand from 48.34 billion rand.
Reported net income declined 17.5% year over year to 1.46 billion rand, or 7.36 rand per share, from 1.76 billion rand, or 8.78 rand per share.
As of Feb. 24, US$1 was equivalent to 11.51 rand.
