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Nu-World Holdings fiscal H1 profit climbs 19.5% YOY

Nu-World Holdings Ltd. said its normalized net income for the fiscal first half ended Feb. 28 amounted to 1.52 rand per share, an increase of 18.1% from 1.28 rand per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 34.2 million rand, an increase of 19.5% from 28.6 million rand in the year-earlier period.

Total revenue grew 5.3% on an annual basis to 1.09 billion rand from 1.04 billion rand, and total operating expenses increased 5.0% year over year to 1.03 billion rand from 981.9 million rand.

Reported net income grew 20.4% from the prior-year period to 40.9 million rand, or 1.81 rand per share, from 34.0 million rand, or 1.52 rand per share.

As of April 14, US$1 was equivalent to 11.97 rand.