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Phoenitron Q2 profit falls YOY

Phoenitron Holdings Ltd. said its second-quarter normalized net income came to HK$1.1 million, a decline of 76.1% from HK$4.5 million in the prior-year period.

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

The normalized profit margin declined to 0.1% from 0.7% in the year-earlier period.

Total revenue grew 15.2% on an annual basis to HK$718.2 million from HK$623.5 million, and total operating expenses climbed 15.1% from the prior-year period to HK$722.6 million from HK$627.7 million.

Reported net income fell 74.7% year over year to HK$1.6 million, or 0 cents per share, from HK$6.3 million, or 2 cents per share.