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SDM Group swings to loss in Q2

SDM Group Holdings Ltd. said its second-quarter normalized net income came to a loss of HK$1.0 million, compared with income of HK$183,250 in the prior-year period.

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

The normalized profit margin dropped to negative 5.9% from 1.1% in the year-earlier period.

Total revenue came to HK$17.3 million, compared with HK$17.2 million in the prior-year period, and total operating expenses climbed 14.8% from the prior-year period to HK$19.0 million from HK$16.6 million.

Reported net income totaled a loss of HK$1.7 million, or a loss of 1 cents per share, compared to income of HK$266,000, or 0 cents per share, in the prior-year period.