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Fujikon Industrial fiscal H2 profit falls YOY

Fujikon Industrial Holdings Ltd. said its normalized net income for the fiscal second half ended March 31 came to 1 Hong Kong cents per share, a decline of 22.9% from 2 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 HK$5.5 million, a decrease of 22.4% from HK$7.1 million in the year-earlier period.

Total revenue fell 18.0% on an annual basis to HK$588.5 million from HK$717.4 million, and total operating expenses fell 16.7% on an annual basis to HK$590.4 million from HK$709.0 million.

Reported net income declined 14.9% from the prior-year period to HK$14.7 million, or 3 cents per share, from HK$17.3 million, or 4 cents per share.

For the year, the company's normalized net income totaled HK$3.4 million, a fall of 92.9% from HK$46.9 million in the prior year.

Full-year total revenue declined 17.1% year over year to HK$1.26 billion from HK$1.53 billion, and total operating expenses fell 13.0% on an annual basis to HK$1.26 billion from HK$1.45 billion.

The company said reported net income decreased 79.5% year over year to HK$12.8 million, or 3 cents per share, in the full year, from HK$62.4 million, or 14 cents per share.