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Power Assets Holdings H1 profit climbs 16.8% YOY

Power Assets Holdings Ltd. said its normalized net income for the first half was HK$1.19 per share, an increase of 16.8% from HK$1.02 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$2.53 billion, a gain of 16.8% from HK$2.17 billion in the prior-year period.

Total revenue came to HK$631.0 million, compared with HK$629.0 million in the year-earlier period, and total operating expenses totaled HK$459.0 million, compared with HK$91.0 million in the year-earlier period.

Reported net income rose 15.8% from the prior-year period to HK$4.02 billion, or HK$1.89 per share, from HK$3.48 billion, or HK$1.63 per share.