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Evershine Group Q3 loss widens 25.5% YOY

Evershine Group Holdings Ltd. said its third-quarter normalized net income came to a loss of HK$2.7 million, compared with a loss of HK$2.1 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 fell to negative 34.9% from negative 22.0% in the year-earlier period.

Total revenue fell 48.9% year over year to HK$5.0 million from HK$9.7 million, and total operating expenses decreased 22.3% year over year to HK$9.7 million from HK$12.5 million.

Reported net income came to a loss of HK$4.3 million, or a loss of 0 cents per share, compared to a loss of HK$3.6 million, or a loss of 1 cents per share, in the year-earlier period.