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Hin Sang Group fiscal H1 profit falls YOY

Hin Sang Group (International) Holding Co. Ltd. said its normalized net income for the fiscal first half ended Sept. 30 was 1 Hong Kong cents per share, a decline of 58.1% from 3 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 HK$8.5 million, a decline of 44.0% from HK$15.1 million in the year-earlier period.

Total revenue grew year over year to HK$116.8 million from HK$114.7 million, and total operating expenses increased 10.6% on an annual basis to HK$100.1 million from HK$90.5 million.

Reported net income declined 31.0% from the prior-year period to HK$13.9 million, or 2 cents per share, from HK$20.2 million, or 3 cents per share.