China Vanguard You Champion Holdings Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to HK$13.2 million, a decrease of 26.5% from HK$18.0 million in the prior-year period.

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

The normalized profit margin fell to 24.0% from 35.6% in the year-earlier period.

Total revenue increased 9.0% on an annual basis to HK$55.1 million from HK$50.6 million, and total operating expenses climbed 24.7% from the prior-year period to HK$24.2 million from HK$19.4 million.

Reported net income came to HK$16.3 million, or 0 cents per share, compared to HK$15.7 million, or 0 cents per share, in the year-earlier period.