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Harvey Norman Holdings fiscal H1 profit climbs 20.8% YOY

Harvey Norman Holdings Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to 13 Australian cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

EPS increased 17.1% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$148.6 million, an increase of 20.8% from A$123.0 million in the year-earlier period.

Total revenue climbed 8.7% year over year to A$912.0 million from A$839.3 million, and total operating expenses climbed from the prior-year period to A$674.7 million from A$648.0 million.

Reported net income increased 30.6% from the prior-year period to A$185.5 million, or 17 cents per share, from A$142.0 million, or 13 cents per share.