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Elegance Optical International fiscal H1 loss widens 42.4% YOY

Elegance Optical International Holdings Ltd said its normalized net income for the fiscal first half ended Sept. 30 came to a loss of 8 Hong Kong cents per share, compared with a loss of 6 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 a loss of HK$25.6 million, compared with a loss of HK$18.0 million in the year-earlier period.

Total revenue decreased 33.6% on an annual basis to HK$139.8 million from HK$210.6 million, and total operating expenses fell 24.1% year over year to HK$183.4 million from HK$241.6 million.

Reported net income came to a loss of HK$41.8 million, or a loss of 13 cents per share, compared to a loss of HK$29.6 million, or a loss of 9 cents per share, in the prior-year period.