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Tse Sui Luen Jewellery (International) fiscal H1 profit falls YOY

Tse Sui Luen Jewellery (International) Ltd. said its normalized net income for the fiscal first half ended Aug. 31 was 8 Hong Kong cents per share, a decrease of 27.3% from 11 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$19.9 million, a decrease of 27.3% from HK$27.4 million in the year-earlier period.

Total revenue decreased on an annual basis to HK$1.75 billion from HK$1.82 billion, and total operating expenses fell on an annual basis to HK$1.69 billion from HK$1.74 billion.

Reported net income declined 40.2% from the prior-year period to HK$15.5 million, or 6 cents per share, from HK$25.8 million, or 11 cents per share.