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Trade Me Group fiscal H1 profit climbs YOY

Trade Me Group Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, was 9 New Zealand cents per share, an increase from 8 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 NZ$33.8 million, a gain from NZ$33.4 million in the prior-year period.

Total revenue grew 8.9% on an annual basis to NZ$105.6 million from NZ$96.9 million, and total operating expenses rose 19.6% on an annual basis to NZ$47.5 million from NZ$39.7 million.

Reported net income came to NZ$38.5 million, or 10 cents per share, compared to NZ$38.4 million, or 10 cents per share, in the year-earlier period.

As of Feb. 17, US$1 was equivalent to NZ$1.51.