China Travel International Investment Hong Kong Ltd said its first-half normalized net income amounted to 3 Hong Kong cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

EPS fell 31.0% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$170.7 million, a decrease of 32.7% from HK$253.8 million in the year-earlier period.

Total revenue declined 13.0% on an annual basis to HK$1.82 billion from HK$2.09 billion, and total operating expenses decreased 9.9% from the prior-year period to HK$1.56 billion from HK$1.73 billion.

Reported net income fell 33.5% on an annual basis to HK$270.1 million, or 5 cents per share, from HK$406.0 million, or 7 cents per share.