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Winto Group Q1 loss widens 71.5% YOY

Winto Group (Holdings) Ltd. said its first-quarter normalized net income amounted to a loss of HK$3.1 million, compared with a loss of HK$1.8 million in the year-earlier period.

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

The normalized profit margin fell to negative 48.7% from negative 34.4% in the year-earlier period.

Total revenue climbed 21.1% year over year to HK$6.4 million from HK$5.3 million, and total operating expenses climbed 44.6% on an annual basis to HK$11.1 million from HK$7.7 million.

Reported net income came to a loss of HK$4.5 million, or a loss of 0 cents per share, compared to a loss of HK$3.4 million, or a loss of 0 cents per share, in the year-earlier period.