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Paradise Entertainment H1 loss widens YOY

Paradise Entertainment Ltd said its first-half normalized net income was a loss of 5 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$53.0 million, compared with a loss of HK$19.3 million in the year-earlier period.

Total revenue fell 9.0% year over year to HK$519.8 million from HK$571.1 million, and total operating expenses grew from the prior-year period to HK$592.7 million from HK$584.0 million.

Reported net income came to a loss of HK$416.8 million, or a loss of 40 cents per share, compared to a loss of HK$23.9 million, or a loss of 2 cents per share, in the prior-year period.