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Hosen Group swings to loss in H1

Hosen Group Ltd. said its normalized net income for the first half came to a loss of S$272,500, compared with income of S$90,000 in the year-earlier period.

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

Total revenue fell year over year to S$37.3 million from S$37.8 million, and total operating expenses totaled S$37.7 million, compared with S$37.5 million in the prior-year period.

Reported net income came to a loss of S$488,000, or a loss of 0 cents per share, compared to income of S$17,000, or 0 cents per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to S$1.34.