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EGL Holdings H1 profit falls YOY

EGL Holdings Co. Ltd. said its first-half normalized net income amounted to 2 Hong Kong cents per share, a decrease of 83.8% from 12 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$10.1 million, a decline of 83.8% from HK$62.0 million in the prior-year period.

Total revenue decreased on an annual basis to HK$817.4 million from HK$855.4 million, and total operating expenses rose 6.9% from the prior-year period to HK$810.9 million from HK$758.6 million.

Reported net income decreased 82.1% on an annual basis to HK$15.1 million, or 3 cents per share, from HK$84.4 million, or 17 cents per share.