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Mexan fiscal H1 profit climbs 30.3% YOY

Mexan Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to 2 Hong Kong cents per share, an increase of 30.3% from 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$26.2 million, a gain of 30.3% from HK$20.1 million in the year-earlier period.

Total revenue climbed 16.0% on an annual basis to HK$76.8 million from HK$66.2 million, and total operating expenses increased on an annual basis to HK$34.2 million from HK$33.3 million.

Reported net income rose 34.5% year over year to HK$33.9 million, or 3 cents per share, from HK$25.2 million, or 2 cents per share.