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Foley Family Wines fiscal H1 profit falls YOY

Foley Family Wines Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to NZ$368,130, a fall of 59.1% from NZ$899,380 in the year-earlier period.

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

Total revenue rose 11.0% on an annual basis to NZ$13.8 million from NZ$12.5 million, and total operating expenses increased 15.8% year over year to NZ$12.5 million from NZ$10.8 million.

Reported net income declined 61.1% from the prior-year period to NZ$402,330, or 1 cents per share, from NZ$1.0 million, or 2 cents per share.

As of March 11, US$1 was equivalent to NZ$1.39.