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Luk Fook Holdings (International) fiscal H1 profit falls YOY

Luk Fook Holdings (International) Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to HK$1.04 per share, a decrease of 14.7% from HK$1.22 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$614.4 million, a decrease of 14.7% from HK$720.4 million in the year-earlier period.

Total revenue declined 25.1% on an annual basis to HK$7.54 billion from HK$10.07 billion, and total operating expenses declined 26.2% year over year to HK$6.59 billion from HK$8.92 billion.

Reported net income fell 16.6% year over year to HK$804.6 million, or HK$1.37 per share, from HK$965.0 million, or HK$1.64 per share.