Viva China Holdings Ltd. said its first-quarter normalized net income came to a loss of HK$4.2 million, compared with a loss of HK$61.2 million in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to negative 10.9% from negative 257.2% in the year-earlier period.
Total revenue climbed 61.9% year over year to HK$38.5 million from HK$23.8 million, and total operating expenses declined 9.2% on an annual basis to HK$48.1 million from HK$53.0 million.
Reported net income totaled a loss of HK$6.0 million, or a loss of 0 cents per share, compared to a loss of HK$89.1 million, or a loss of 1 cents per share, in the year-earlier period.