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InvoCare H2 profit climbs 8.5% YOY

InvoCare Ltd. said its second-half normalized net income amounted to 29 Australian cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS rose 8.3% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$32.3 million, a gain of 8.5% from A$29.8 million in the year-earlier period.

Total revenue grew 6.1% on an annual basis to A$234.0 million from A$220.7 million, and total operating expenses climbed 5.7% year over year to A$184.0 million from A$174.1 million.

Reported net income rose 8.0% year over year to A$36.4 million, or 33 cents per share, from A$33.7 million, or 31 cents per share.

For the year, the company's normalized net income totaled 45 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 44 cents.

EPS rose from 44 cents in the prior year.

Normalized net income was A$49.1 million, a rise from A$48.4 million in the prior year.

Full-year total revenue increased 6.1% on an annual basis to A$445.9 million from A$420.2 million, and total operating expenses grew 6.6% year over year to A$360.7 million from A$338.3 million.

The company said reported net income came to A$54.9 million, or 50 cents per share, in the full year, compared with A$54.5 million, or 50 cents per share, the prior year.