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Kin Yat Holdings fiscal H1 profit climbs 16.1% YOY

Kin Yat Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to 7 Hong Kong cents per share, an increase of 16.2% from 6 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$27.9 million, an increase of 16.1% from HK$24.0 million in the prior-year period.

Total revenue climbed 21.4% on an annual basis to HK$1.26 billion from HK$1.04 billion, and total operating expenses climbed 21.7% from the prior-year period to HK$1.23 billion from HK$1.01 billion.

Reported net income grew on an annual basis to HK$19.5 million, or 5 cents per share, from HK$18.6 million, or 4 cents per share.