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Sparkle Roll swings to loss in fiscal H2

Sparkle Roll Group Ltd. said its normalized net income for the fiscal second half ended March 31 amounted to a loss of HK$13.0 million, compared with income of HK$24.7 million in the year-earlier period.

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

Total revenue fell 40.0% year over year to HK$981.1 million from HK$1.64 billion, and total operating expenses declined 38.8% from the prior-year period to HK$966.1 million from HK$1.58 billion.

Reported net income totaled a loss of HK$459.2 million, or a loss of 15 cents per share, compared to income of HK$37.7 million, or 1 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled HK$10.1 million, compared with income of HK$12.7 million in the prior year.

Full-year total revenue fell 17.6% from the prior-year period to HK$2.61 billion from HK$3.16 billion, and total operating expenses fell 17.4% on an annual basis to HK$2.57 billion from HK$3.11 billion.

The company said reported net income totaled a loss of HK$455.7 million, or a loss of 15 cents per share, in the full year, compared with income of HK$19.0 million, or 1 cents per share, the prior year.