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Far East Holdings International H1 loss narrows YOY

Far East Holdings International Ltd said its normalized net income for the first half came to a loss of HK$1.1 million, compared with a loss of HK$7.9 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue fell 29.1% year over year to HK$4.1 million from HK$5.8 million, and total operating expenses declined 58.0% from the prior-year period to HK$9.1 million from HK$21.7 million.

Reported net income came to a loss of HK$121.4 million, or a loss of 11 cents per share, compared to income of HK$53.3 million, or 7 cents per share, in the year-earlier period.