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Kingmaker Footwear fiscal H2 profit climbs YOY

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Kingmaker Footwear fiscal H2 profit climbs YOY

Kingmaker Footwear Holdings Ltd. said its normalized net income for the fiscal second half ended March 31 was 6 Hong Kong cents per share, a gain from 1 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 HK$41.1 million, a gain from HK$8.6 million in the prior-year period.

Total revenue grew 25.5% on an annual basis to HK$1.19 billion from HK$946.9 million, and total operating expenses climbed 21.2% from the prior-year period to HK$1.14 billion from HK$936.9 million.

Reported net income increased on an annual basis to HK$53.0 million, or 8 cents per share, from HK$13.9 million, or 2 cents per share.

For the year, the company's normalized net income totaled 10 cents per share, a gain of 70.7% from 6 cents per share in the prior year.

Normalized net income was HK$70.3 million, an increase of 69.7% from HK$41.4 million in the prior year.

Full-year total revenue grew 23.7% year over year to HK$2.38 billion from HK$1.92 billion, and total operating expenses grew 22.3% year over year to HK$2.29 billion from HK$1.87 billion.

The company said reported net income rose 36.9% on an annual basis to HK$92.5 million, or 13 cents per share, in the full year, from HK$67.6 million, or 10 cents per share.