Combined Motor Holdings Ltd said its normalized net income for the fiscal first half ended Aug. 31 amounted to 76 South African cents per share, an increase of 10.2% from 69 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 72.1 million rand, a decline from 75.4 million rand in the year-earlier period.
Total revenue grew on an annual basis to 5.49 billion rand from 5.37 billion rand, and total operating expenses increased from the prior-year period to 5.33 billion rand from 5.21 billion rand.
Reported net income fell 5.6% from the prior-year period to 81.4 million rand, or 86 cents per share, from 86.2 million rand, or 79 cents per share.
As of Oct. 22, US$1 was equivalent to 11.02 rand.
