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Hong Kong Education fiscal H1 loss narrows YOY

Hong Kong Education (Int'l) Investments Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was a loss of 5 Hong Kong cents per share, compared with a loss of 37 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 a loss of HK$2.7 million, compared with a loss of HK$9.3 million in the prior-year period.

Total revenue fell 5.0% year over year to HK$116.2 million from HK$122.3 million, and total operating expenses declined 7.9% on an annual basis to HK$125.6 million from HK$136.3 million.

Reported net income came to a loss of HK$12.0 million, or a loss of 23 cents per share, compared to a loss of HK$11.2 million, or a loss of 45 cents per share, in the prior-year period.