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Best Pacific H1 profit climbs 37.1% YOY

Best Pacific International Holdings Ltd. said its first-half normalized net income amounted to 14 Hong Kong cents per share, a gain of 37.3% from 10 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$145.0 million, a gain of 37.1% from HK$105.7 million in the year-earlier period.

Total revenue rose 23.1% on an annual basis to HK$1.12 billion from HK$911.4 million, and total operating expenses grew 19.9% year over year to HK$907.6 million from HK$756.9 million.

Reported net income grew 39.3% year over year to HK$191.7 million, or 19 cents per share, from HK$137.7 million, or 13 cents per share.