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Cashbuild fiscal H1 profit climbs 34.9% YOY

Cashbuild Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 7.19 rand per share, a gain of 37.4% from 5.23 rand per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 166.6 million rand, a gain of 34.9% from 123.5 million rand in the prior-year period.

Total revenue grew 11.7% on an annual basis to 3.97 billion rand from 3.55 billion rand, and total operating expenses rose 10.7% from the prior-year period to 3.72 billion rand from 3.36 billion rand.

Reported net income rose 36.5% on an annual basis to 189.3 million rand, or 8.16 rand per share, from 138.7 million rand, or 5.87 rand per share.

As of March 3, US$1 was equivalent to 11.76 rand.