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Zhong Fa Zhan fiscal H1 loss widens 25.1% YOY

Zhong Fa Zhan Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to a loss of 2 Hong Kong cents per share, compared with a loss of 2 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$7.1 million, compared with a loss of HK$5.7 million in the prior-year period.

Total revenue declined 74.4% year over year to HK$9.7 million from HK$38.0 million, and total operating expenses fell 54.9% on an annual basis to HK$21.4 million from HK$47.4 million.

Reported net income totaled a loss of HK$11.4 million, or a loss of 4 cents per share, compared to a loss of HK$9.1 million, or a loss of 3 cents per share, in the prior-year period.