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Victory City International fiscal H1 profit falls YOY

Victory City International Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to HK$11.8 million, a decrease of 87.2% from HK$91.6 million in the year-earlier period.

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

Total revenue grew 16.2% on an annual basis to HK$2.91 billion from HK$2.50 billion, and total operating expenses climbed 13.6% year over year to HK$2.65 billion from HK$2.33 billion.

Reported net income rose on an annual basis to HK$289.0 million, or 16 cents per share, from HK$140.1 million, or 8 cents per share.