Luk Fook Holdings (International) Ltd. said its normalized net income for the fiscal second half ended March 31 came to 63 Hong Kong cents per share, compared with the S&P Capital IQ consensus estimate of 86 cents per share.

EPS declined 40.5% year over year from HK$1.06.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$369.9 million, a decline of 40.6% from HK$622.8 million in the year-earlier period.

Total revenue fell 15.7% year over year to HK$7.07 billion from HK$8.38 billion, and total operating expenses declined 12.2% on an annual basis to HK$6.46 billion from HK$7.36 billion.

Reported net income fell 38.9% from the prior-year period to HK$495.3 million, or 84 cents per share, from HK$810.2 million, or HK$1.37 per share.

For the year, the company's normalized net income totaled HK$1.25 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of HK$1.66.

EPS declined 40.0% from HK$2.08 in the prior year.

Normalized net income was HK$735.8 million, a decrease of 40.1% from HK$1.23 billion in the prior year.

Full-year total revenue declined 11.9% on an annual basis to HK$14.03 billion from HK$15.92 billion, and total operating expenses declined 8.4% on an annual basis to HK$12.79 billion from HK$13.97 billion.

The company said reported net income declined 40.6% year over year to HK$958.7 million, or HK$1.63 per share, in the full year, from HK$1.61 billion, or HK$2.74 per share.