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Kresta Holdings swings to loss in H2

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Kresta Holdings swings to loss in H2

Kresta Holdings Ltd. said its second-half normalized net income came to a loss of A$523,130, compared with income of A$115,630 in the year-earlier period.

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

Total revenue climbed on an annual basis to A$49.1 million from A$48.6 million, and total operating expenses rose on an annual basis to A$49.6 million from A$48.3 million.

Reported net income came to a loss of A$648,530, or a loss of 0 cents per share, compared to income of A$44,880, or 0 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled A$2.3 million, compared with a loss of A$-1.4 million in the prior year.

Full-year total revenue grew on an annual basis to A$96.3 million from A$94.4 million, and total operating expenses rose year over year to A$99.5 million from A$96.4 million.

The company said reported net income totaled a loss of A$2.6 million, or a loss of 2 cents per share, in the full year, compared with a loss of A$1.9 million, or a loss of 1 cents per share, the prior year.