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Tonly Electronics Q1 profit climbs 48.7% YOY

Tonly Electronics Holdings Ltd said its first-quarter normalized net income was 11 Hong Kong cents per share, a decrease of 20.1% from 14 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$28.4 million, an increase of 48.7% from HK$19.1 million in the prior-year period.

The normalized profit margin increased to 2.5% from 1.8% in the year-earlier period.

Total revenue climbed 9.5% year over year to HK$1.16 billion from HK$1.06 billion, and total operating expenses grew 9.2% on an annual basis to HK$1.13 billion from HK$1.03 billion.

Reported net income increased 27.9% from the prior-year period to HK$36.9 million, or 15 cents per share, from HK$28.8 million, or 22 cents per share.