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Briscoe Group fiscal H1 profit climbs 23.6% YOY

Briscoe Group Ltd said its normalized net income for the fiscal first half ended July 27 came to 7 New Zealand cents per share, a gain of 22.8% from 6 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NZ$16.1 million, an increase of 23.6% from NZ$13.0 million in the year-earlier period.

Total revenue climbed 6.5% year over year to NZ$231.5 million from NZ$217.4 million, and total operating expenses climbed from the prior-year period to NZ$206.5 million from NZ$197.5 million.

Reported net income increased 23.7% on an annual basis to NZ$18.5 million, or 8 cents per share, from NZ$14.9 million, or 7 cents per share.

As of Sept. 26, US$1 was equivalent to NZ$1.27.