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BeijingWest Industries H1 profit climbs YOY

BeijingWest Industries International Ltd. said its normalized net income for the first half came to 15 Hong Kong cents per share, an increase of 88.8% from 8 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$88.2 million, a gain from HK$38.6 million in the prior-year period.

Total revenue fell on an annual basis to HK$1.51 billion from HK$1.58 billion, and total operating expenses fell 8.5% year over year to HK$1.42 billion from HK$1.55 billion.

Reported net income grew 12.7% on an annual basis to HK$108.5 million, or 19 cents per share, from HK$96.2 million, or 20 cents per share.