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Le Saunda Holdings fiscal H2 profit climbs 12.3% YOY

Le Saunda Holdings Ltd. said its normalized net income for the fiscal second half ended Feb. 28 was 13 Hong Kong cents per share, an increase of 12.3% from 12 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$92.8 million, a gain of 12.3% from HK$82.6 million in the prior-year period.

Total revenue climbed year over year to HK$942.0 million from HK$922.7 million, and total operating expenses came to HK$799.6 million, compared with HK$794.0 million in the year-earlier period.

Reported net income fell 32.2% from the prior-year period to HK$113.1 million, or 16 cents per share, from HK$166.8 million, or 24 cents per share.

For the year, the company's normalized net income totaled 22 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 26 cents.

EPS rose 16.4% from 19 cents in the prior year.

Normalized net income was HK$157.0 million, a gain of 16.9% from HK$134.3 million in the prior year.

Full-year total revenue rose 5.4% on an annual basis to HK$1.70 billion from HK$1.61 billion, and total operating expenses increased on an annual basis to HK$1.46 billion from HK$1.41 billion.

The company said reported net income declined 15.8% on an annual basis to HK$191.4 million, or 27 cents per share, in the full year, from HK$227.4 million, or 32 cents per share.