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Suga International fiscal H2 profit falls YOY

Suga International Holdings Ltd said its normalized net income for the fiscal second half ended March 31 was 5 Hong Kong cents per share, a decrease of 55.8% from 11 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$13.2 million, a decrease of 55.7% from HK$29.8 million in the year-earlier period.

Total revenue climbed year over year to HK$661.5 million from HK$636.7 million, and total operating expenses rose 8.4% on an annual basis to HK$638.6 million from HK$588.9 million.

Reported net income fell 51.7% from the prior-year period to HK$21.3 million, or 8 cents per share, from HK$44.0 million, or 16 cents per share.

For the year, the company's normalized net income totaled 14 cents per share, a decline of 34.0% from 21 cents per share in the prior year.

Normalized net income was HK$37.1 million, a decline of 33.9% from HK$56.1 million in the prior year.

Full-year total revenue rose 7.8% on an annual basis to HK$1.34 billion from HK$1.24 billion, and total operating expenses grew 11.1% year over year to HK$1.29 billion from HK$1.16 billion.

The company said reported net income increased on an annual basis to HK$170.4 million, or 62 cents per share, in the full year, from HK$81.5 million, or 30 cents per share.