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Chinese Food & Beverage Group Q2 loss widens 9.3% YOY

Chinese Food and Beverage Group Ltd said its normalized net income for the second quarter was a loss of 5 Hong Kong cents per share, compared with a loss of 5 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$13.7 million, compared with a loss of HK$12.6 million in the year-earlier period.

The normalized profit margin dropped to negative 101.3% from negative 100.8% in the year-earlier period.

Total revenue fell 15.6% year over year to HK$10.5 million from HK$12.5 million, and total operating expenses rose 6.3% year over year to HK$20.8 million from HK$19.6 million.

Reported net income totaled a loss of HK$21.8 million, or a loss of 8 cents per share, compared to a loss of HK$23.5 million, or a loss of 9 cents per share, in the year-earlier period.