Esprit Holdings Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to 2 Hong Kong cents per share, a decline of 88.5% from 13 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$29.4 million, a decrease of 88.5% from HK$254.4 million in the prior-year period.
Total revenue fell 16.3% year over year to HK$10.72 billion from HK$12.81 billion, and total operating expenses fell 14.0% year over year to HK$10.68 billion from HK$12.42 billion.
Reported net income declined 60.0% on an annual basis to HK$38.9 million, or 2 cents per share, from HK$97.2 million, or 5 cents per share.
