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Carry Wealth swings to loss in H2

Carry Wealth Holdings Ltd. said its second-half normalized net income amounted to a loss of HK$33.3 million, compared with income of HK$21,880 in the prior-year period.

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

Total revenue declined 88.0% on an annual basis to HK$9.0 million from HK$74.5 million, and total operating expenses fell 16.8% year over year to HK$62.4 million from HK$75.0 million.

Reported net income came to a loss of HK$52.2 million, or a loss of 6 cents per share, compared to a loss of HK$904,570, or a loss of 0 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 3 cents per share, compared with a loss of 1 cents per share in the prior year.

Normalized net income was a loss of HK$21.7 million, compared with a loss of HK$8.6 million in the prior year.

Full-year total revenue fell 21.2% on an annual basis to HK$120.7 million from HK$153.2 million, and total operating expenses fell 7.1% year over year to HK$156.0 million from HK$167.9 million.

The company said reported net income came to a loss of HK$38.0 million, or a loss of 5 cents per share, in the full year, compared with a loss of HK$14.7 million, or a loss of 2 cents per share, the prior year.