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Globe International fiscal H1 profit climbs 62.5% YOY

Globe International Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to 6 Australian cents per share, a gain of 62.3% from 4 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, an increase of 62.5% from A$1.5 million in the year-earlier period.

Total revenue grew 19.5% year over year to A$79.1 million from A$66.2 million, and total operating expenses increased 17.9% year over year to A$75.2 million from A$63.8 million.

Reported net income grew 83.6% on an annual basis to A$2.9 million, or 7 cents per share, from A$1.6 million, or 4 cents per share.