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Schaffer Corp. fiscal H1 profit climbs 49.3% YOY

Schaffer Corp. Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to 14 Australian cents per share, an increase of 49.3% from 9 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$2.0 million, an increase of 49.3% from A$1.3 million in the year-earlier period.

Total revenue rose 36.7% year over year to A$103.4 million from A$75.7 million, and total operating expenses increased 37.0% on an annual basis to A$96.2 million from A$70.2 million.

Reported net income grew on an annual basis to A$6.7 million, or 48 cents per share, from A$2.1 million, or 15 cents per share.