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Time Watch Investments fiscal H1 profit climbs 16.1% YOY

Time Watch Investments Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to 7 Hong Kong cents per share, an increase of 16.1% from 6 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$143.0 million, a gain of 16.1% from HK$123.2 million in the year-earlier period.

Total revenue increased 13.2% year over year to HK$1.31 billion from HK$1.15 billion, and total operating expenses climbed 13.9% on an annual basis to HK$1.10 billion from HK$964.5 million.

Reported net income rose from the prior-year period to HK$157.1 million, or 8 cents per share, from HK$150.4 million, or 7 cents per share.