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Sage International Q2 loss narrows YOY

Sage International Group Ltd. said its second-quarter normalized net income came to a loss of HK$1.2 million, compared with a loss of HK$3.6 million in the year-earlier period.

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

The normalized profit margin increased to negative 28.1% from negative 130.2% in the year-earlier period.

Total revenue grew 42.8% on an annual basis to HK$4.0 million from HK$2.8 million, and total operating expenses rose 34.4% from the prior-year period to HK$6.5 million from HK$4.8 million.

Reported net income totaled a loss of HK$1.9 million, or a loss of 0 cents per share, compared to a loss of HK$5.0 million, or a loss of 2 cents per share, in the year-earlier period.