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Lifestyle International H1 profit falls YOY

Lifestyle International Holdings Ltd said its normalized net income for the first half came to 32 Hong Kong cents per share, a decline of 29.5% from 45 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$509.6 million, a decrease of 30.4% from HK$732.1 million in the prior-year period.

Total revenue fell on an annual basis to HK$2.28 billion from HK$2.35 billion, and total operating expenses came to HK$1.37 billion, compared with HK$1.37 billion in the prior-year period.

Reported net income declined 56.2% from the prior-year period to HK$434.6 million, or 27 cents per share, from HK$993.1 million, or 61 cents per share.