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Supply Network fiscal H1 profit falls YOY

Supply Network Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 7 Australian cents per share, a decrease of 7.1% from 8 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 A$2.5 million, a decline of 5.6% from A$2.6 million in the year-earlier period.

Total revenue grew 5.1% on an annual basis to A$42.4 million from A$40.4 million, and total operating expenses grew 6.2% on an annual basis to A$38.4 million from A$36.1 million.

Reported net income declined 5.4% year over year to A$2.8 million, or 8 cents per share, from A$2.9 million, or 9 cents per share.