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Reef Casino Trust H2 profit climbs 10.7% YOY

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Reef Casino Trust H2 profit climbs 10.7% YOY

Reef Casino Trust said its second-half normalized net income came to A$2.7 million, a rise of 10.7% from A$2.4 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue increased on an annual basis to A$13.6 million from A$13.1 million, and total operating expenses declined 5.1% on an annual basis to A$5.0 million from A$5.2 million.

Reported net income totaled A$4.3 million, compared with A$3.8 million in the year-earlier period.

For the year, the company's normalized net income totaled 9 cents per share, an increase of 24.0% from 8 cents per share in the prior year.

Normalized net income was A$4.7 million, a gain of 24.0% from A$3.8 million in the prior year.

Full-year total revenue increased 9.8% year over year to A$25.1 million from A$22.9 million, and total operating expenses decreased year over year to A$10.0 million from A$10.5 million.

The company said reported net income rose 24.0% year over year to A$7.5 million, or 15 cents per share, in the full year, from A$6.0 million, or 12 cents per share.