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Bauhaus International fiscal H2 profit falls YOY

Bauhaus International (Holdings) Ltd said its normalized net income for the fiscal second half ended March 31 was 21 Hong Kong cents per share, a decrease of 4.9% from 22 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$75.6 million, a decline from HK$79.0 million in the year-earlier period.

Total revenue increased 8.9% year over year to HK$955.6 million from HK$877.3 million, and total operating expenses grew 10.8% from the prior-year period to HK$831.8 million from HK$750.4 million.

Reported net income totaled HK$108.7 million, or 30 cents per share, compared to HK$108.9 million, or 30 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 25 cents per share, a fall from 26 cents per share in the prior year.

Normalized net income was HK$91.1 million, a decline from HK$93.2 million in the prior year.

Full-year total revenue grew 11.5% from the prior-year period to HK$1.59 billion from HK$1.43 billion, and total operating expenses grew 13.3% year over year to HK$1.44 billion from HK$1.27 billion.

The company said reported net income grew on an annual basis to HK$129.5 million, or 35 cents per share, in the full year, from HK$125.1 million, or 35 cents per share.