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Nick Scali fiscal H1 profit climbs 40.9% YOY

Nick Scali Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to 16 Australian cents per share, an increase of 40.5% from 11 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$12.7 million, an increase of 40.9% from A$9.0 million in the year-earlier period.

Total revenue increased 32.0% on an annual basis to A$102.5 million from A$77.6 million, and total operating expenses increased 29.4% year over year to A$82.6 million from A$63.8 million.

Reported net income grew 40.7% from the prior-year period to A$14.1 million, or 17 cents per share, from A$10.0 million, or 12 cents per share.