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Asia Commercial Holdings fiscal H1 loss narrows YOY

Asia Commercial Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 was a loss of 2 Hong Kong cents per share, compared with a loss of 4 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$23.1 million, compared with a loss of HK$49.6 million in the prior-year period.

Total revenue declined 20.9% year over year to HK$389.2 million from HK$492.0 million, and total operating expenses declined 23.5% from the prior-year period to HK$432.3 million from HK$565.3 million.

Reported net income totaled a loss of HK$39.4 million, or a loss of 3 cents per share, compared to a loss of HK$80.4 million, or a loss of 6 cents per share, in the year-earlier period.