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Pas Group fiscal H1 profit falls YOY

PAS Group Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 2 Australian cents per share, a decrease of 94.8% from 44 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$3.1 million, a decline of 27.9% from A$4.3 million in the prior-year period.

Total revenue fell year over year to A$117.3 million from A$121.7 million, and total operating expenses grew from the prior-year period to A$112.2 million from A$108.3 million.

Reported net income came to a loss of A$34.8 million, or a loss of 25 cents per share, compared to income of A$5.0 million, or 51 cents per share, in the year-earlier period.