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Sun International fiscal Q2 loss widens YOY

Sun International Group Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 3 Hong Kong cents per share, compared with a loss of 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$35.9 million, compared with a loss of HK$34.9 million in the year-earlier period.

The normalized profit margin dropped to negative 223.9% from negative 123.7% in the year-earlier period.

Total revenue declined 43.1% on an annual basis to HK$16.0 million from HK$28.2 million, and total operating expenses declined 5.3% from the prior-year period to HK$68.5 million from HK$72.3 million.

Reported net income came to a loss of HK$57.5 million, or a loss of 4 cents per share, compared to a loss of HK$77.6 million, or a loss of 6 cents per share, in the year-earlier period.