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Sun International fiscal Q3 loss widens 30.7% YOY

Sun International Group Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 1 Hong Kong cents per share, compared with a loss of 2 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$20.7 million, compared with a loss of HK$15.8 million in the year-earlier period.

The normalized profit margin dropped to negative 48.6% from negative 29.3% in the year-earlier period.

Total revenue decreased 21.3% year over year to HK$42.6 million from HK$54.1 million, and total operating expenses declined 34.8% on an annual basis to HK$56.2 million from HK$86.2 million.

Reported net income came to a loss of HK$1.9 million, or a loss of 0 cents per share, compared to a loss of HK$30.4 million, or a loss of 3 cents per share, in the year-earlier period.