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Alco Holdings swings to profit in fiscal H2

Alco Holdings Ltd said its normalized net income for the fiscal second half ended March 31 was HK$74.1 million, compared with a loss of HK$5.0 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue climbed 18.6% on an annual basis to HK$1.47 billion from HK$1.24 billion, and total operating expenses climbed 8.8% from the prior-year period to HK$1.35 billion from HK$1.24 billion.

Reported net income increased on an annual basis to HK$123.5 million, or 21 cents per share, from HK$29.1 million, or 5 cents per share.

For the year, the company's normalized net income totaled HK$67.1 million, a rise from HK$110,500 in the prior year.

Full-year total revenue increased 11.8% year over year to HK$2.56 billion from HK$2.29 billion, and total operating expenses grew 6.9% year over year to HK$2.46 billion from HK$2.30 billion.

The company said reported net income increased year over year to HK$114.3 million, or 20 cents per share, in the full year, from HK$7.1 million, or 1 cents per share.