Fulum Group Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to 2 Hong Kong cents per share, a decline of 53.8% 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$20.3 million, a decrease of 37.9% from HK$32.7 million in the prior-year period.

Total revenue climbed 12.7% year over year to HK$1.32 billion from HK$1.17 billion, and total operating expenses grew 15.0% from the prior-year period to HK$1.28 billion from HK$1.11 billion.

Reported net income declined 31.7% year over year to HK$27.4 million, or 2 cents per share, from HK$40.1 million, or 4 cents per share.