Capital Estate Ltd. said its normalized net income for the fiscal first half ended Jan. 31 amounted to a loss of HK$5.4 million, compared with a loss of HK$42.8 million in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue fell 10.5% year over year to HK$64.2 million from HK$71.8 million, and total operating expenses declined 44.9% on an annual basis to HK$81.4 million from HK$147.8 million.
Reported net income totaled a loss of HK$775,000, or a loss of 0 cents per share, compared to a loss of HK$68.2 million, or a loss of 3 cents per share, in the year-earlier period.
