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Corporate Travel Management fiscal H1 profit climbs 62.2% YOY

Corporate Travel Management Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to 14 Australian cents per share, an increase of 56.1% from 9 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$13.6 million, an increase of 62.2% from A$8.4 million in the year-earlier period.

Total revenue climbed 42.8% year over year to A$119.7 million from A$83.8 million, and total operating expenses increased 39.4% from the prior-year period to A$94.2 million from A$67.6 million.

Reported net income increased 75.1% year over year to A$17.3 million, or 18 cents per share, from A$9.9 million, or 11 cents per share.