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Four Seas Mercantile fiscal H1 profit falls YOY

Four Seas Mercantile Holdings Ltd said its normalized net income for the fiscal first half ended Sept. 30 amounted to 13 Hong Kong cents per share, compared with 13 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$48.4 million, compared with HK$48.7 million in the year-earlier period.

Total revenue declined on an annual basis to HK$1.41 billion from HK$1.43 billion, and total operating expenses fell from the prior-year period to HK$1.35 billion from HK$1.37 billion.

Reported net income increased year over year to HK$73.1 million, or 19 cents per share, from HK$71.1 million, or 18 cents per share.