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Silver Base Group fiscal H2 loss widens YOY

Silver Base Group Holdings Ltd. said its normalized net income for the fiscal second half ended March 31 was a loss of HK$61.8 million, compared with a loss of HK$9.9 million in the prior-year period.

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

Total revenue declined 38.8% year over year to HK$229.7 million from HK$375.4 million, and total operating expenses grew from the prior-year period to HK$336.7 million from HK$327.1 million.

Reported net income came to a loss of HK$51.3 million, or a loss of 3 cents per share, compared to a loss of HK$15.9 million, or a loss of 1 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 2 cents per share, compared with a loss of 24 cents per share in the prior year.

Normalized net income was a loss of HK$41.5 million, compared with a loss of HK$491.6 million in the prior year.

Full-year total revenue declined 14.4% on an annual basis to HK$418.9 million from HK$489.1 million, and total operating expenses declined 60.2% year over year to HK$475.5 million from HK$1.20 billion.

The company said reported net income totaled a loss of HK$19.1 million, or a loss of 1 cents per share, in the full year, compared with a loss of HK$787.4 million, or a loss of 39 cents per share, the prior year.