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Sau San Tong swings to loss in fiscal Q3

Sau San Tong Holdings Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of HK$3.1 million, compared with income of HK$3.2 million in the prior-year period.

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

The normalized profit margin declined to negative 0.8% from 0.9% in the year-earlier period.

Total revenue climbed 12.3% year over year to HK$408.6 million from HK$363.9 million, and total operating expenses climbed 14.5% from the prior-year period to HK$407.3 million from HK$355.8 million.

Reported net income came to a loss of HK$5.5 million, or a loss of 1 cents per share, compared to income of HK$3.6 million, or 3 cents per share, in the year-earlier period.