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GLG Corp. fiscal H1 profit falls YOY

GLG Corp. Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 2 cents per share, a decrease of 14.9% from 3 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 $1.6 million, a decline of 15.0% from $1.9 million in the year-earlier period.

Total revenue declined 11.5% on an annual basis to $102.2 million from $115.5 million, and total operating expenses fell 11.7% from the prior-year period to $99.6 million from $112.8 million.

Reported net income declined 20.8% on an annual basis to $2.2 million, or 3 cents per share, from $2.7 million, or 4 cents per share.