Australian Agricultural Projects Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to A$42,920, a rise from A$8,620 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue came to A$1.0 million, compared with A$1.0 million in the prior-year period, and total operating expenses declined year over year to A$771,340 from A$801,010.
Reported net income came to a loss of A$92,860, or a loss of 0 cents per share, compared to income of A$134,420, or 0 cents per share, in the prior-year period.
