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Fairwood Holdings fiscal H1 profit climbs 23.8% YOY

Fairwood Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to 53 Hong Kong cents per share, an increase of 24.0% from 43 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$66.9 million, a gain of 23.8% from HK$54.0 million in the prior-year period.

Total revenue increased 11.4% year over year to HK$1.13 billion from HK$1.01 billion, and total operating expenses rose 10.4% from the prior-year period to HK$1.03 billion from HK$929.5 million.

Reported net income increased 12.1% on an annual basis to HK$75.3 million, or 59 cents per share, from HK$67.2 million, or 53 cents per share.