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Win Hanverky Holdings H1 profit falls YOY

Win Hanverky Holdings Ltd. said its normalized net income for the first half was 7 Hong Kong cents per share, a decline from 7 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$87.7 million, a decline from HK$89.2 million in the year-earlier period.

Total revenue grew 8.7% on an annual basis to HK$2.04 billion from HK$1.88 billion, and total operating expenses rose 8.4% year over year to HK$1.90 billion from HK$1.75 billion.

Reported net income fell 28.2% on an annual basis to HK$105.7 million, or 8 cents per share, from HK$147.2 million, or 12 cents per share.