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Burger Fuel Worldwide fiscal H2 profit climbs 16.2% YOY

Burger Fuel Worldwide Ltd. said its normalized net income for the fiscal second half ended March 31 came to NZ$299,500, a rise of 16.2% from NZ$257,740 in the prior-year period.

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

Total revenue increased 31.0% year over year to NZ$10.0 million from NZ$7.6 million, and total operating expenses grew 32.8% on an annual basis to NZ$9.7 million from NZ$7.3 million.

Reported net income grew from the prior-year period to NZ$319,170, or 1 cents per share, from NZ$304,660, or 1 cents per share.

For the year, the company's normalized net income totaled NZ$510,750, a rise of 60.7% from NZ$317,740 in the prior year.

Full-year total revenue rose 28.5% from the prior-year period to NZ$18.4 million from NZ$14.3 million, and total operating expenses rose 28.4% year over year to NZ$17.9 million from NZ$13.9 million.

The company said reported net income grew 32.8% on an annual basis to NZ$532,170, or 1 cents per share, in the full year, from NZ$400,660, or 1 cents per share.

As of July 21, US$1 was equivalent to NZ$1.50.