trending Market Intelligence /marketintelligence/en/news-insights/trending/bi6i9sStKJSJNcAREs7r-A2 content esgSubNav
In This List

Luk Fook Holdings (International) fiscal H2 profit falls YOY

Blog

Global M&A By the Numbers: Q3 2021

Blog

Industries Most and Least Impacted by COVID-19: A Market-Implied Probability of Default Perspective

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection


Luk Fook Holdings (International) fiscal H2 profit falls YOY

Luk Fook Holdings (International) Ltd. said its normalized net income for the fiscal second half ended March 31 came to HK$1.05 per share, a decline of 15.0% from HK$1.24 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$619.0 million, a decrease of 14.9% from HK$727.8 million in the year-earlier period.

Total revenue decreased 8.4% year over year to HK$8.38 billion from HK$9.15 billion, and total operating expenses fell 7.7% on an annual basis to HK$7.37 billion from HK$7.98 billion.

Reported net income decreased 10.0% from the prior-year period to HK$810.2 million, or HK$1.37 per share, from HK$899.9 million, or HK$1.53 per share.

For the year, the company's normalized net income totaled HK$2.09 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of HK$2.68.

EPS declined 14.9% from HK$2.46 in the prior year.

Normalized net income was HK$1.23 billion, a fall of 14.8% from HK$1.45 billion in the prior year.

Full-year total revenue decreased 17.1% on an annual basis to HK$15.92 billion from HK$19.21 billion, and total operating expenses fell 17.4% year over year to HK$13.96 billion from HK$16.90 billion.

The company said reported net income decreased 13.4% on an annual basis to HK$1.61 billion, or HK$2.74 per share, in the full year, from HK$1.86 billion, or HK$3.17 per share.