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Sincere Watch (Hong Kong) fiscal H1 profit falls YOY

Sincere Watch (Hong Kong) Ltd said its normalized net income for the fiscal first half ended Sept. 30 came to HK$19.8 million, a decline of 17.8% from HK$24.0 million in the prior-year period.

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

Total revenue fell year over year to HK$314.1 million from HK$325.8 million, and total operating expenses increased from the prior-year period to HK$290.3 million from HK$278.4 million.

Reported net income declined 23.6% year over year to HK$25.7 million, or 1 cents per share, from HK$33.6 million, or 1 cents per share.