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AEON Stores (Hong Kong) H2 profit falls YOY

AEON Stores (Hong Kong) Co. Ltd. said its second-half normalized net income came to 18 Hong Kong cents per share, a decline of 60.9% from 47 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$47.6 million, a decline of 60.9% from HK$121.6 million in the year-earlier period.

Total revenue grew on an annual basis to HK$4.48 billion from HK$4.42 billion, and total operating expenses rose year over year to HK$4.42 billion from HK$4.24 billion.

Reported net income fell 74.7% on an annual basis to HK$44.5 million, or 17 cents per share, from HK$175.6 million, or 68 cents per share.

For the year, the company's normalized net income totaled 31 cents per share, a decline of 48.2% from 59 cents per share in the prior year.

Normalized net income was HK$79.5 million, a decline of 48.2% from HK$153.5 million in the prior year.

Full-year total revenue grew from the prior-year period to HK$8.98 billion from HK$8.82 billion, and total operating expenses grew on an annual basis to HK$8.87 billion from HK$8.58 billion.

The company said reported net income decreased 63.8% year over year to HK$93.2 million, or 36 cents per share, in the full year, from HK$257.6 million, or 99 cents per share.