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China Fortune Investments swings to loss in Q1

4913175 said its normalized net income for the first quarter amounted to a loss of HK$5.3 million, compared with income of HK$7.6 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 18.2% from 14.4% in the year-earlier period.

Total revenue decreased 45.2% year over year to HK$29.1 million from HK$53.2 million, and total operating expenses declined 24.7% on an annual basis to HK$34.9 million from HK$46.3 million.

eported net income totaled a loss of HK$10.9 million, or a loss of 1 cents per share, compared to income of HK$9.0 million, or 2 cents per share, in the year-earlier period.China Fortune Investments (Holding) Ltd.

4913175 said its normalized net income for the first quarter amounted to a loss of HK$5.3 million, compared with income of HK$7.6 million in the year-earlier period.