AH-Vest Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, was 599,430 rand, a gain from 298,170 rand 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 80.7 million rand from 78.2 million rand, and total operating expenses grew from the prior-year period to 78.7 million rand from 75.8 million rand.

Reported net income rose 48.6% from the prior-year period to 709,090 rand, or 1 cents per share, from 477,070 rand, or 0 cents per share.

As of March 31, US$1 was equivalent to 14.71 rand.