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China Environmental Resources Group fiscal H1 loss widens 18.1% YOY

China Environmental Resources Group Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, was a loss of 1 Hong Kong cents per share, compared with a loss of 1 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 a loss of HK$13.4 million, compared with a loss of HK$11.4 million in the year-earlier period.

Total revenue climbed 38.0% on an annual basis to HK$3.7 million from HK$2.7 million, and total operating expenses climbed 19.1% from the prior-year period to HK$24.9 million from HK$20.9 million.

Reported net income totaled a loss of HK$52.8 million, or a loss of 4 cents per share, compared to a loss of HK$11.0 million, or a loss of 1 cents per share, in the year-earlier period.