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Amax International fiscal H1 loss narrows YOY

Amax International Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to a loss of 3 Hong Kong cents per share, compared with a loss of 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of HK$10.1 million, compared with a loss of HK$10.9 million in the prior-year period.

Total revenue rose 63.2% year over year to HK$4.0 million from HK$2.4 million, and total operating expenses climbed 8.0% from the prior-year period to HK$15.5 million from HK$14.4 million.

Reported net income came to a loss of HK$16.7 million, or a loss of 6 cents per share, compared to a loss of HK$17.8 million, or a loss of 8 cents per share, in the prior-year period.