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Brambles Ltd. fiscal H1 profit climbs YOY

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Brambles Ltd. fiscal H1 profit climbs YOY

Brambles Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2016, was 17 cents per share, compared with the S&P Capital IQ consensus estimate of 19 cents per share.

In the prior-year period, the per-share result was a profit of 17 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $278.1 million, compared with $275.5 million in the year-earlier period.

Total revenue rose on an annual basis to $2.79 billion from $2.70 billion, and total operating expenses increased from the prior-year period to $2.29 billion from $2.20 billion.

Reported net income declined 44.0% year over year to $162.5 million, or 10 cents per share, from $290.3 million, or 18 cents per share.