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Evershine Group Q1 loss widens YOY

Evershine Group Holdings Ltd. said its first-quarter normalized net income was a loss of HK$5.5 million, compared with a loss of HK$2.5 million in the year-earlier period.

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

The normalized profit margin climbed to negative 27.2% from negative 30.2% in the year-earlier period.

Total revenue climbed on an annual basis to HK$27.3 million from HK$8.3 million, and total operating expenses climbed year over year to HK$35.3 million from HK$11.4 million.

Reported net income totaled a loss of HK$4.7 million, or a loss of 0 cents per share, compared to a loss of HK$3.9 million, or a loss of 1 cents per share, in the year-earlier period.