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Group Sense fiscal H2 loss widens YOY

Group Sense (International) Ltd said its normalized net income for the fiscal second half ended March 31 came to a loss of 2 Hong Kong cents per share, compared with a loss of 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 a loss of HK$25.1 million, compared with a loss of HK$24.5 million in the prior-year period.

Total revenue decreased 37.1% on an annual basis to HK$108.4 million from HK$172.5 million, and total operating expenses fell 30.8% on an annual basis to HK$156.3 million from HK$226.0 million.

Reported net income came to a loss of HK$61.6 million, or a loss of 5 cents per share, compared to a loss of HK$47.8 million, or a loss of 4 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 1 cents per share, compared with a loss of 4 cents per share in the prior year.

Normalized net income was a loss of HK$23.4 million, compared with a loss of HK$44.3 million in the prior year.

Full-year total revenue decreased 46.7% from the prior-year period to HK$186.0 million from HK$349.4 million, and total operating expenses fell 45.9% on an annual basis to HK$238.9 million from HK$441.3 million.

The company said reported net income totaled a loss of HK$27.9 million, or a loss of 1 cents per share, in the full year, compared with a loss of HK$80.4 million, or a loss of 7 cents per share, the prior year.