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Cloud Investment Q1 loss narrows YOY

Cloud Investment Holdings Ltd. said its normalized net income for the first quarter came to a loss of HK$1.0 million, compared with a loss of HK$1.5 million in the prior-year period.

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

The normalized profit margin climbed to negative 61.8% from negative 106.5% in the year-earlier period.

Total revenue grew 18.1% year over year to HK$1.7 million from HK$1.4 million, and total operating expenses fell 13.3% year over year to HK$3.3 million from HK$3.8 million.

Reported net income came to a loss of HK$1.6 million, or a loss of 0 cents per share, compared to a loss of HK$2.4 million, or a loss of 0 cents per share, in the year-earlier period.