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Kong Shum Union fiscal Q3 profit climbs 8.7% YOY

Heng Sheng Holdings Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to HK$738,130, an increase of 8.7% from HK$678,750 in the prior-year period.

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

The normalized profit margin declined to 0.8% from 0.8% in the year-earlier period.

Total revenue climbed 8.8% on an annual basis to HK$93.0 million from HK$85.5 million, and total operating expenses increased 8.9% year over year to HK$91.8 million from HK$84.3 million.

Reported net income declined 41.9% year over year to HK$349,000, or 0 cents per share, from HK$601,000, or 0 cents per share.