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Spur fiscal H1 profit falls YOY

Spur Corp. said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 63 South African cents per share, a decline of 16.2% from 76 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 56.5 million rand, a decline of 12.7% from 64.7 million rand in the year-earlier period.

Total revenue climbed 8.7% on an annual basis to 408.7 million rand from 376.0 million rand, and total operating expenses climbed 18.1% from the prior-year period to 324.6 million rand from 274.8 million rand.

Reported net income declined 24.5% from the prior-year period to 54.9 million rand, or 62 cents per share, from 72.8 million rand, or 85 cents per share.

As of Feb. 26, US$1 was equivalent to 11.51 rand.