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Sitoy Group Holdings fiscal H1 profit falls YOY

Sitoy Group Holdings Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to 16 Hong Kong cents per share, a decline from 16 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$156.5 million, a decline from HK$160.2 million in the prior-year period.

Total revenue decreased year over year to HK$1.69 billion from HK$1.74 billion, and total operating expenses decreased from the prior-year period to HK$1.44 billion from HK$1.50 billion.

Reported net income decreased on an annual basis to HK$198.3 million, or 20 cents per share, from HK$208.0 million, or 21 cents per share.