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Man Wah Holdings fiscal H1 profit climbs 11.2% YOY

Man Wah Holdings Ltd said its normalized net income for the fiscal first half ended Sept. 30 amounted to 10 Hong Kong cents per share, a gain of 7.5% 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$400.4 million, a gain of 11.2% from HK$360.1 million in the prior-year period.

Total revenue rose 10.9% on an annual basis to HK$3.20 billion from HK$2.88 billion, and total operating expenses rose 7.4% on an annual basis to HK$2.71 billion from HK$2.53 billion.

Reported net income grew 8.8% on an annual basis to HK$562.5 million, or 14 cents per share, from HK$517.2 million, or 13 cents per share.