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New Century Group Hong Kong swings to loss in fiscal H1

New Century Group Hong Kong Ltd. said its normalized net income for the fiscal first half ended Sept. 30 was a loss of HK$38.0 million, compared with income of HK$44.3 million in the prior-year period.

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

Reported net income came to a loss of HK$48.6 million, or a loss of 1 cents per share, compared to income of HK$27.5 million, or 0 cents per share, in the prior-year period.