SPAR Group Ltd. said its normalized net income for the fiscal first half ended March 31 came to 3.53 rand per share, compared with the S&P Capital IQ consensus estimate of 4.07 rand per share.

EPS rose 17.0% year over year from 3.02 rand.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 663.2 million rand, a gain of 19.3% from 555.9 million rand in the prior-year period.

Total revenue climbed 40.7% year over year to 36.02 billion rand from 25.61 billion rand, and total operating expenses grew 41.1% on an annual basis to 34.87 billion rand from 24.72 billion rand.

Reported net income rose 21.9% from the prior-year period to 783.6 million rand, or 4.17 rand per share, from 642.9 million rand, or 3.49 rand per share.

As of May 19, US$1 was equivalent to 11.92 rand.