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Gage Roads Brewing fiscal H1 profit falls YOY

Gage Roads Brewing Co. Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was A$289,920, a fall of 68.9% from A$931,580 in the prior-year period.

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

Total revenue decreased 8.3% year over year to A$14.5 million from A$15.8 million, and total operating expenses decreased from the prior-year period to A$13.9 million from A$14.2 million.

Reported net income fell 71.0% year over year to A$296,210, or 0 cents per share, from A$1.0 million, or 0 cents per share.