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.