Sitoy Group Holdings Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 16 Hong Kong cents per share, a decrease of 17.2% from 19 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$160.2 million, a decline of 17.2% from HK$193.5 million in the prior-year period.
Total revenue declined 16.0% year over year to HK$1.74 billion from HK$2.07 billion, and total operating expenses fell 14.8% on an annual basis to HK$1.50 billion from HK$1.76 billion.
Reported net income declined 16.9% on an annual basis to HK$208.0 million, or 21 cents per share, from HK$250.4 million, or 25 cents per share.
