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Ruralco fiscal H1 profit climbs 93.7% YOY

Ruralco Holdings Ltd. said its normalized net income for the fiscal first half ended March 31 was 12 Australian cents per share, a gain of 52.9% from 8 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$9.5 million, an increase of 93.7% from A$4.9 million in the prior-year period.

Total revenue climbed 36.4% year over year to A$742.8 million from A$544.6 million, and total operating expenses climbed 36.2% from the prior-year period to A$721.6 million from A$530.0 million.

Reported net income increased year over year to A$10.5 million, or 14 cents per share, from A$5.1 million, or 8 cents per share.