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Sau San Tong fiscal Q1 loss narrows YOY

Sau San Tong Holdings Ltd said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 2 Hong Kong cents per share, compared with a loss of 2 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$2.4 million, compared with a loss of HK$2.6 million in the year-earlier period.

The normalized profit margin increased to negative 0.7% from negative 0.8% in the year-earlier period.

Total revenue increased 6.1% year over year to HK$344.7 million from HK$324.9 million, and total operating expenses climbed 6.6% from the prior-year period to HK$346.9 million from HK$325.4 million.

Reported net income came to a loss of HK$5.1 million, or a loss of 3 cents per share, compared to a loss of HK$4.7 million, or a loss of 4 cents per share, in the prior-year period.