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Success Universe swings to loss in H1

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Success Universe swings to loss in H1

Success Universe Group Ltd said its normalized net income for the first half amounted to a loss of HK$5.7 million, compared with income of HK$390,130 in the year-earlier period.

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

Total revenue fell 41.7% year over year to HK$347.1 million from HK$595.6 million, and total operating expenses fell 39.3% year over year to HK$372.3 million from HK$613.4 million.

Reported net income totaled a loss of HK$12.6 million, or a loss of 0 cents per share, compared to a loss of HK$1.9 million, or a loss of 0 cents per share, in the year-earlier period.