Leeds Group PLC said its normalized net income for the fiscal second half ended May 31 amounted to 1 Great British pence per share, a decrease of 14.3% from 1 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £338,750, a decrease of 14.8% from £397,500 in the prior-year period.

Total revenue grew on an annual basis to £16.3 million from £15.7 million, and total operating expenses grew from the prior-year period to £15.7 million from £15.1 million.

Reported net income decreased 17.9% on an annual basis to £352,000, or 1 pence per share, from £429,000, or 2 pence per share.

For the year, the company's normalized net income totaled 4 pence per share, a decrease from 4 pence per share in the prior year.

Normalized net income was £981,880, a decline from £1.0 million in the prior year.

Full-year total revenue rose on an annual basis to £34.9 million from £34.2 million, and total operating expenses increased on an annual basis to £33.2 million from £32.5 million.

The company said reported net income fell on an annual basis to £1.1 million, or 4 pence per share, in the full year, from £1.1 million, or 4 pence per share.