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Kong Shum Union swings to profit in fiscal Q3

Kong Shum Union Property Management (Holding) Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was HK$678,750, compared with a loss of HK$1.3 million in the prior-year period.

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

The normalized profit margin increased to 0.8% from negative 1.5% in the year-earlier period.

Total revenue climbed year over year to HK$85.5 million from HK$83.0 million, and total operating expenses grew 6.2% on an annual basis to HK$84.3 million from HK$79.4 million.

Reported net income totaled HK$601,000, or 0 cents per share, compared to a loss of HK$2.8 million, or a loss of 1 cents per share, in the prior-year period.