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Allan International fiscal H1 profit falls YOY

Allan International Holdings Ltd said its normalized net income for the fiscal first half ended Sept. 30 came to 2 Hong Kong cents per share, a decrease of 73.6% from 8 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$7.4 million, a decrease of 73.6% from HK$28.0 million in the year-earlier period.

Total revenue decreased 21.7% on an annual basis to HK$847.2 million from HK$1.08 billion, and total operating expenses decreased 19.5% on an annual basis to HK$839.7 million from HK$1.04 billion.

Reported net income declined 84.1% from the prior-year period to HK$8.8 million, or 3 cents per share, from HK$55.5 million, or 17 cents per share.