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Stelux Holdings International swings to loss in fiscal H1

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Stelux Holdings International swings to loss in fiscal H1

Stelux Holdings International Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to a loss of 2 Hong Kong cents per share, compared with 7 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$23.3 million, compared with income of HK$86.7 million in the prior-year period.

Total revenue decreased 10.7% year over year to HK$1.79 billion from HK$2.00 billion, and total operating expenses declined from the prior-year period to HK$1.76 billion from HK$1.85 billion.

Reported net income totaled a loss of HK$33.1 million, or a loss of 3 cents per share, compared to income of HK$116.3 million, or 9 cents per share, in the prior-year period.