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Academies Australasia fiscal H1 profit falls YOY

Academies Australasia Group Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to 1 Australian cents per share, a decline of 75.7% from 4 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$657,250, a decrease of 71.6% from A$2.3 million in the prior-year period.

Total revenue increased 36.3% on an annual basis to A$29.2 million from A$21.4 million, and total operating expenses rose 56.6% year over year to A$27.4 million from A$17.5 million.

Reported net income declined 64.1% from the prior-year period to A$976,000, or 2 cents per share, from A$2.7 million, or 5 cents per share.