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Sparkle Roll swings to loss in fiscal H1

Sparkle Roll Group Ltd said its normalized net income for the fiscal first half ended Sept. 30 amounted to a loss of HK$13.8 million, compared with income of HK$2.8 million in the prior-year period.

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

Total revenue declined 25.4% on an annual basis to HK$1.21 billion from HK$1.62 billion, and total operating expenses declined 24.8% from the prior-year period to HK$1.21 billion from HK$1.60 billion.

Reported net income came to a loss of HK$23.3 million, or a loss of 1 cents per share, compared to income of HK$3.5 million, or 0 cents per share, in the prior-year period.