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Emperor Entertainment Hotel fiscal H2 profit falls YOY

Emperor Entertainment Hotel Ltd. said its normalized net income for the fiscal second half ended March 31 came to 10 Hong Kong cents per share, a decline of 8.3% from 11 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$129.5 million, a decline of 8.2% from HK$141.1 million in the year-earlier period.

Total revenue fell 15.9% year over year to HK$981.1 million from HK$1.17 billion, and total operating expenses decreased from the prior-year period to HK$683.4 million from HK$710.7 million.

Reported net income declined 24.6% year over year to HK$240.6 million, or 18 cents per share, from HK$318.9 million, or 24 cents per share.

For the year, the company's normalized net income totaled 21 cents per share, a decrease from 22 cents per share in the prior year.

Normalized net income was HK$276.2 million, a fall from HK$288.9 million in the prior year.

Full-year total revenue decreased 10.2% year over year to HK$2.03 billion from HK$2.27 billion, and total operating expenses totaled HK$1.36 billion, compared with HK$1.37 billion in the year-earlier period.

The company said reported net income declined 15.6% year over year to HK$504.3 million, or 39 cents per share, in the full year, from HK$597.2 million, or 46 cents per share.