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Trillion Grand Corporate swings to loss in fiscal Q3

hmvod Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 2 Hong Kong cents per share, compared with 3 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 a loss of HK$1.7 million, compared with income of HK$1.9 million in the year-earlier period.

The normalized profit margin dropped to negative 6.0% from 4.1% in the year-earlier period.

Total revenue decreased 37.9% on an annual basis to HK$28.5 million from HK$46.0 million, and total operating expenses fell 27.7% from the prior-year period to HK$30.7 million from HK$42.5 million.

Reported net income came to a loss of HK$6.9 million, or a loss of 10 cents per share, compared to income of HK$3.3 million, or 6 cents per share, in the prior-year period.