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Australian Vintage fiscal H1 profit falls YOY

Australian Vintage Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to 1 Australian cents per share, a decline of 48.8% from 2 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 A$2.4 million, a decline of 34.6% from A$3.6 million in the year-earlier period.

Total revenue climbed 16.1% on an annual basis to A$121.7 million from A$104.8 million, and total operating expenses grew 17.6% on an annual basis to A$116.4 million from A$99.0 million.

Reported net income increased 10.2% from the prior-year period to A$4.4 million, or 2 cents per share, from A$4.0 million, or 2 cents per share.