Allied Farmers Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to NZ$27,880, compared with a loss of NZ$315,250 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue increased on an annual basis to NZ$9.4 million from NZ$9.1 million, and total operating expenses totaled NZ$8.9 million, compared with NZ$8.9 million in the prior-year period.
Reported net income totaled NZ$708,000, or 1 cents per share, compared to a loss of NZ$572,000, or a loss of 0 cents per share, in the prior-year period.
As of Feb. 27, US$1 was equivalent to NZ$1.32.
