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ICO Group fiscal Q3 profit falls YOY

ICO Group Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to HK$4.3 million, a fall of 40.7% from HK$7.3 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 fell to 2.8% from 4.0% in the year-earlier period.

Total revenue decreased 14.3% on an annual basis to HK$154.5 million from HK$180.3 million, and total operating expenses decreased 11.7% from the prior-year period to HK$146.9 million from HK$166.3 million.

Reported net income fell 41.7% year over year to HK$5.9 million, or 0 cents per share, from HK$10.1 million, or 0 cents per share.