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Godfreys Group fiscal H2 profit climbs YOY

Godfreys Group Ltd. said its normalized net income for the fiscal second half ended June 26 was 20 Australian cents per share, an increase from 3 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 A$8.3 million, an increase from A$913,130 in the prior-year period.

Total revenue increased 7.0% year over year to A$92.0 million from A$86.0 million, and total operating expenses decreased from the prior-year period to A$81.4 million from A$83.4 million.

Reported net income came to A$7.8 million, or 19 cents per share, compared to a loss of A$715,230, or a loss of 3 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 28 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 30 cents.

EPS rose 64.8% from 17 cents in the prior year.

Normalized net income was A$10.0 million, a gain from A$4.9 million in the prior year.

Full-year total revenue increased 5.2% year over year to A$182.6 million from A$173.5 million, and total operating expenses grew on an annual basis to A$168.3 million from A$162.6 million.

The company said reported net income rose year over year to A$12.0 million, or 34 cents per share, in the full year, from A$5.7 million, or 20 cents per share.