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Tamawood fiscal H1 profit climbs 73.0% YOY

Tamawood Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to 12 Australian cents per share, a gain of 73.1% from 7 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 A$3.0 million, an increase of 73.0% from A$1.7 million in the prior-year period.

Total revenue climbed 26.1% year over year to A$49.9 million from A$39.6 million, and total operating expenses climbed 22.3% on an annual basis to A$45.0 million from A$36.8 million.

Reported net income rose 73.6% on an annual basis to A$3.2 million, or 13 cents per share, from A$1.8 million, or 7 cents per share.