Tse Sui Luen Jewellery (International) Ltd. said its normalized net income for the fiscal first half ended Aug. 31 was 11 Hong Kong cents per share, a decrease of 33.8% from 17 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$27.4 million, a decline of 33.8% from HK$41.5 million in the year-earlier period.
Total revenue decreased 14.6% on an annual basis to HK$1.82 billion from HK$2.13 billion, and total operating expenses fell 14.5% on an annual basis to HK$1.74 billion from HK$2.04 billion.
Reported net income decreased 45.7% from the prior-year period to HK$25.8 million, or 11 cents per share, from HK$47.6 million, or 19 cents per share.
