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Link Holdings swings to loss in Q1

Link Holdings Ltd. said its normalized net income for the first quarter amounted to a loss of HK$1.7 million, compared with income of HK$1.6 million in the year-earlier period.

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

The normalized profit margin declined to negative 17.6% from 9.9% in the year-earlier period.

Total revenue declined 41.4% on an annual basis to HK$9.7 million from HK$16.6 million, and total operating expenses declined 5.6% on an annual basis to HK$11.3 million from HK$11.9 million.

Reported net income came to a loss of HK$2.7 million, or a loss of 0 cents per share, compared to income of HK$1.9 million, or 0 cents per share, in the year-earlier period.