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Quali-Smart Holdings fiscal H1 profit falls YOY

Quali-Smart Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to 1 Hong Kong cents per share, a decline of 25.6% from 2 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$13.2 million, a decrease of 23.3% from HK$17.3 million in the prior-year period.

Total revenue declined on an annual basis to HK$522.6 million from HK$533.5 million, and total operating expenses fell from the prior-year period to HK$504.7 million from HK$512.1 million.

Reported net income decreased 25.9% from the prior-year period to HK$16.7 million, or 2 cents per share, from HK$22.6 million, or 2 cents per share.