Vashion Group Ltd. said its normalized net income for the first half amounted to a loss of 3 Singapore cents per share, compared with a loss of 4 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 a loss of S$485,000, compared with a loss of S$458,750 in the year-earlier period.

Total revenue declined 10.0% on an annual basis to S$1.6 million from S$1.7 million, and total operating expenses rose on an annual basis to S$2.5 million from S$2.5 million.

Reported net income totaled a loss of S$774,490, or a loss of 5 cents per share, compared to a loss of S$606,260, or a loss of 6 cents per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to S$1.34.