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China Vanguard You Champion fiscal Q3 profit falls YOY

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.