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Ardent Leisure fiscal H2 profit climbs YOY

Ardent Leisure Group said its normalized net income for the fiscal second half ended June 30 came to 3 Australian cents per share, a decline of 6.2% from 3 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 A$13.1 million, a gain from A$12.9 million in the prior-year period.

Total revenue rose 23.9% year over year to A$308.7 million from A$249.1 million, and total operating expenses climbed 26.8% year over year to A$282.2 million from A$222.6 million.

Reported net income declined 49.7% on an annual basis to A$13.3 million, or 3 cents per share, from A$26.5 million, or 6 cents per share.

For the year, the company's normalized net income totaled 7 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 13 cents.

EPS declined 8.4% from 7 cents in the prior year.

Normalized net income was A$29.4 million, a fall from A$29.9 million in the prior year.

Full-year total revenue rose 19.0% year over year to A$594.6 million from A$499.7 million, and total operating expenses rose 22.0% year over year to A$536.9 million from A$440.2 million.

The company said reported net income fell 34.4% year over year to A$32.1 million, or 7 cents per share, in the full year, from A$49.0 million, or 12 cents per share.