a2 Milk Co. Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to NZ$11.0 million, a gain from NZ$1.5 million in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue rose 86.2% on an annual basis to NZ$139.2 million from NZ$74.8 million, and total operating expenses rose 68.1% on an annual basis to NZ$121.7 million from NZ$72.4 million.
Reported net income increased year over year to NZ$10.1 million, or 2 cents per share, from NZ$125,000, or 0 cents per share.
As of Feb. 17, US$1 was equivalent to NZ$1.51.