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Joyce Boutique Holdings swings to loss in fiscal H1

Joyce Boutique Holdings Ltd said its normalized net income for the fiscal first half ended Sept. 30 came to a loss of 1 Hong Kong cents per share, compared with 2 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 a loss of HK$23.8 million, compared with income of HK$24.6 million in the year-earlier period.

Total revenue decreased 10.9% on an annual basis to HK$582.1 million from HK$653.6 million, and total operating expenses came to HK$619.1 million, compared with HK$615.6 million in the prior-year period.

Reported net income totaled a loss of HK$34.9 million, or a loss of 2 cents per share, compared to income of HK$32.8 million, or 2 cents per share, in the prior-year period.