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Seeka Ltd. H1 profit climbs 96.1% YOY

Seeka Ltd. said its normalized net income for the first half amounted to 39 New Zealand cents per share, a gain of 83.5% from 21 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 NZ$6.4 million, an increase of 96.1% from NZ$3.3 million in the prior-year period.

Total revenue climbed 38.6% year over year to NZ$134.2 million from NZ$96.8 million, and total operating expenses increased 34.7% year over year to NZ$122.3 million from NZ$90.8 million.

Reported net income grew 91.5% on an annual basis to NZ$7.1 million, or 43 cents per share, from NZ$3.7 million, or 24 cents per share.

As of Aug. 26, US$1 was equivalent to NZ$1.36.