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Cash Converters International fiscal Q1 profit climbs YOY

Cash Converters International Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to A$7.2 million, a gain from A$3.3 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 7.4% from 4.3% in the year-earlier period.

Total revenue climbed 26.2% on an annual basis to A$97.2 million from A$77.0 million, and total operating expenses grew 19.1% year over year to A$83.4 million from A$70.0 million.

Reported net income came to A$7.7 million, compared with A$4.4 million in the year-earlier period.