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Amax International fiscal H1 loss widens 11.8% YOY

Amax International Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to a loss of 5 Hong Kong cents per share, compared with a loss of 5 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 a loss of HK$10.9 million, compared with a loss of HK$9.7 million in the year-earlier period.

Total revenue fell year over year to HK$2.4 million from HK$2.5 million, and total operating expenses grew 8.6% year over year to HK$14.4 million from HK$13.3 million.

Reported net income came to a loss of HK$17.8 million, or a loss of 8 cents per share, compared to a loss of HK$15.8 million, or a loss of 7 cents per share, in the year-earlier period.