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Speedy Global full-year profit climbs 18.5% YOY

Speedy Global Holdings Ltd. said its full-year normalized net income came to 4 Hong Kong cents per share, a gain of 18.6% from 4 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$26.8 million, a gain of 18.5% from HK$22.6 million in the year-earlier period.

The normalized profit margin increased to 2.5% from 1.8% in the year-earlier period.

Total revenue declined 11.1% on an annual basis to HK$1.09 billion from HK$1.22 billion, and total operating expenses declined 11.7% year over year to HK$1.04 billion from HK$1.18 billion.

Reported net income grew 22.6% from the prior-year period to HK$33.2 million, or 6 cents per share, from HK$27.1 million, or 5 cents per share.