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.
