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Eagle Nice (International) Holdings swings to profit in fiscal H2

Eagle Nice (International) Holdings Ltd said its normalized net income for the fiscal second half ended March 31 came to 5 Hong Kong cents per share, compared with a loss of 3 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$27.2 million, compared with a loss of HK$13.0 million in the year-earlier period.

Total revenue rose on an annual basis to HK$631.8 million from HK$615.9 million, and total operating expenses fell 6.3% from the prior-year period to HK$596.8 million from HK$636.8 million.

Reported net income came to HK$41.5 million, or 8 cents per share, compared to a loss of HK$20.3 million, or a loss of 4 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 16 cents per share, an increase from 5 cents per share in the prior year.

Normalized net income was HK$81.3 million, a rise from HK$23.3 million in the prior year.

Full-year total revenue rose year over year to HK$1.52 billion from HK$1.48 billion, and total operating expenses decreased year over year to HK$1.39 billion from HK$1.45 billion.

The company said reported net income rose year over year to HK$105.2 million, or 21 cents per share, in the full year, from HK$21.9 million, or 4 cents per share.