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Hong Kong Resources Holdings fiscal H1 profit falls YOY

Hong Kong Resources Holdings Co. Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to HK$8.9 million, a fall of 12.2% from HK$10.2 million in the year-earlier period.

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

Total revenue fell 6.1% year over year to HK$638.5 million from HK$680.3 million, and total operating expenses totaled HK$681.3 million, compared with HK$685.2 million in the year-earlier period.

Reported net income totaled a loss of HK$28.8 million, or a loss of 1 cents per share, compared to a loss of HK$26.4 million, or a loss of 1 cents per share, in the year-earlier period.