African and Overseas Enterprises Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to 40 South African cents per share, compared with a loss of 12 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.6 million rand, compared with a loss of 1.4 million rand in the year-earlier period.
Total revenue rose year over year to 268.7 million rand from 261.1 million rand, and total operating expenses fell 5.0% year over year to 253.6 million rand from 266.9 million rand.
Reported net income came to 6.0 million rand, or 52 cents per share, compared to a loss of 2.2 million rand, or a loss of 19 cents per share, in the year-earlier period.
As of March 12, US$1 was equivalent to 12.26 rand.
