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Sino Hotels fiscal H1 profit falls YOY

Sino Hotels (Holdings) Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 8 Hong Kong cents per share, a decrease of 8.7% from 9 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 HK$76.4 million, a decrease of 6.9% from HK$82.1 million in the year-earlier period.

Total revenue totaled HK$167.8 million, compared with HK$166.5 million in the prior-year period, and total operating expenses climbed 5.6% from the prior-year period to HK$120.5 million from HK$114.2 million.

Reported net income declined 6.7% from the prior-year period to HK$112.8 million, or 12 cents per share, from HK$120.9 million, or 13 cents per share.