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Farm Pride Foods fiscal H1 profit climbs 70.1% YOY

Farm Pride Foods Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to 7 Australian cents per share, an increase of 70.2% from 4 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$3.9 million, a gain of 70.1% from A$2.3 million in the prior-year period.

Total revenue increased on an annual basis to A$48.1 million from A$47.1 million, and total operating expenses declined from the prior-year period to A$41.6 million from A$42.9 million.

Reported net income rose 80.2% on an annual basis to A$3.8 million, or 7 cents per share, from A$2.1 million, or 4 cents per share.