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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 amounted to 3 Hong Kong cents per share, a decrease 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$15.1 million, a decline from HK$15.7 million in the prior-year period.

Total revenue declined 9.2% year over year to HK$114.7 million from HK$126.2 million, and total operating expenses decreased 10.4% year over year to HK$90.5 million from HK$101.1 million.

Reported net income fell on an annual basis to HK$20.2 million, or 3 cents per share, from HK$21.2 million, or 4 cents per share.