Delegat Group Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to 17 New Zealand cents per share, an increase of 96.3% 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 NZ$16.7 million, a gain of 96.3% from NZ$8.5 million in the year-earlier period.

Total revenue increased 23.0% on an annual basis to NZ$140.3 million from NZ$114.1 million, and total operating expenses increased 19.0% on an annual basis to NZ$109.2 million from NZ$91.7 million.

Reported net income rose 96.0% on an annual basis to NZ$19.2 million, or 19 cents per share, from NZ$9.8 million, or 10 cents per share.

As of March 24, US$1 was equivalent to NZ$1.49.