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Time Watch Investments fiscal H1 profit falls YOY

Time Watch Investments Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to 7 Hong Kong cents per share, a decrease from 7 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$136.9 million, a decline from HK$143.0 million in the year-earlier period.

Total revenue declined year over year to HK$1.29 billion from HK$1.31 billion, and total operating expenses came to HK$1.10 billion, compared with HK$1.10 billion in the year-earlier period.

Reported net income increased 7.9% year over year to HK$169.5 million, or 8 cents per share, from HK$157.1 million, or 8 cents per share.