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Capevin Holdings fiscal H1 profit falls YOY

Capevin Holdings Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to 19 South African cents per share, a decrease of 10.5% from 21 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 164.7 million rand, a decline of 14.0% from 191.4 million rand in the prior-year period.

Total revenue decreased 14.0% year over year to 264.5 million rand from 307.4 million rand, and total operating expenses fell 11.3% from the prior-year period to 996,000 rand from 1.1 million rand.

Reported net income declined 14.0% on an annual basis to 263.4 million rand, or 30 cents per share, from 306.3 million rand, or 33 cents per share.

As of March 4, US$1 was equivalent to 11.81 rand.