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MJ Gleeson fiscal H1 profit climbs 85.3% YOY

MJ Gleeson PLC said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to 6 Great British pence per share, an increase of 84.3% from 3 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £3.1 million, an increase of 85.3% from £1.7 million in the prior-year period.

Total revenue climbed 23.7% on an annual basis to £42.6 million from £34.4 million, and total operating expenses climbed 18.0% year over year to £37.6 million from £31.9 million.

Reported net income fell 10.4% from the prior-year period to £3.3 million, or 6 pence per share, from £3.7 million, or 7 pence per share.