Chobe Holdings Ltd said its normalized net income for the fiscal first half ended Aug. 31 came to 31 thebe per share, a decline of 6.3% from 33 thebe per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.8 million pula, a decrease of 6.3% from 29.6 million pula in the prior-year period.

Total revenue declined year over year to 119.2 million pula from 121.5 million pula, and total operating expenses rose from the prior-year period to 75.3 million pula from 74.1 million pula.

Reported net income decreased year over year to 34.1 million pula, or 38 thebe per share, from 35.0 million pula, or 39 thebe per share.

As of Nov. 25, US$1 was equivalent to 10.73 pula.