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Just Water International fiscal H1 profit falls YOY

Just Water International Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to NZ$432,500, a decrease of 43.8% from NZ$770,000 in the year-earlier period.

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

Total revenue fell 7.1% year over year to NZ$12.3 million from NZ$13.2 million, and total operating expenses declined from the prior-year period to NZ$11.2 million from NZ$11.7 million.

Reported net income fell 46.4% from the prior-year period to NZ$570,000, or 1 cents per share, from NZ$1.1 million, or 1 cents per share.

As of April 13, US$1 was equivalent to NZ$1.34.