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Collins Foods fiscal H1 profit climbs 78.6% YOY

Collins Foods Ltd. said its normalized net income for the fiscal first half ended Oct. 12 was 10 Australian cents per share, a gain of 78.6% from 6 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$9.6 million, a gain of 78.6% from A$5.4 million in the prior-year period.

Total revenue increased 29.6% on an annual basis to A$256.6 million from A$198.0 million, and total operating expenses rose 26.9% year over year to A$237.2 million from A$186.9 million.

Reported net income totaled a loss of A$23.0 million, or a loss of 25 cents per share, compared to income of A$6.2 million, or 7 cents per share, in the prior-year period.