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Australian Agricultural fiscal H1 loss widens YOY

Australian Agricultural Co. Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to a loss of 13 Australian cents per share, compared with a loss of 12 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$58.8 million, compared with a loss of A$56.4 million in the year-earlier period.

Total revenue decreased 9.4% year over year to A$151.0 million from A$166.7 million, and total operating expenses fell from the prior-year period to A$239.2 million from A$249.8 million.

Reported net income totaled a loss of A$13.6 million, or a loss of 3 cents per share, compared to a loss of A$31.6 million, or a loss of 7 cents per share, in the prior-year period.