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Burger Fuel Worldwide swings to loss in fiscal H1

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Burger Fuel Worldwide swings to loss in fiscal H1

Burger Fuel Worldwide Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to a loss of NZ$305,000, compared with income of NZ$211,250 in the year-earlier period.

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

Total revenue increased 13.9% year over year to NZ$9.6 million from NZ$8.4 million, and total operating expenses increased 23.9% on an annual basis to NZ$10.2 million from NZ$8.2 million.

Reported net income totaled a loss of NZ$488,000, or a loss of 1 cents per share, compared to income of NZ$213,000, or 0 cents per share, in the year-earlier period.

As of Dec. 23, US$1 was equivalent to NZ$1.47.