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China Environmental Resources Group fiscal H1 loss widens 17.8% YOY

China Environmental Resources Group Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was a loss of 1 Hong Kong cents per share, compared with a loss of 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of HK$13.3 million, compared with a loss of HK$11.3 million in the year-earlier period.

Total revenue fell 47.5% year over year to HK$2.7 million from HK$5.1 million, and total operating expenses rose year over year to HK$23.9 million from HK$23.2 million.

Reported net income came to a loss of HK$11.0 million, or a loss of 1 cents per share, compared to a loss of HK$18.4 million, or a loss of 5 cents per share, in the year-earlier period.