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Crocodile Garments fiscal H1 loss narrows YOY

Crocodile Garments Ltd. said its normalized net income for the fiscal first half ended Jan. 31 came to a loss of HK$8.2 million, compared with a loss of HK$11.3 million in the year-earlier period.

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

Total revenue declined 20.5% on an annual basis to HK$218.3 million from HK$274.5 million, and total operating expenses decreased 18.9% from the prior-year period to HK$255.6 million from HK$314.9 million.

Reported net income fell 24.1% on an annual basis to HK$50.2 million, or 5 cents per share, from HK$66.2 million, or 7 cents per share.