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HL Global Enterprises Q2 loss widens YOY

HL Global Enterprises Ltd said its second-quarter normalized net income came to a loss of S$658,750, compared with a loss of S$219,380 in the year-earlier period.

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

The normalized profit margin fell to negative 20.3% from negative 15.5% in the year-earlier period.

Total revenue increased year over year to S$3.2 million from S$1.4 million, and total operating expenses increased 99.5% year over year to S$2.9 million from S$1.5 million.

Reported net income came to a loss of S$1.2 million, or a loss of 1 cents per share, compared to a loss of S$470,000, or a loss of 1 cents per share, in the year-earlier period.

As of Aug. 6, US$1 was equivalent to S$1.39.