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Pacific Textiles fiscal H1 profit climbs 9.5% YOY

Pacific Textiles Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to 29 Hong Kong cents per share, an increase of 9.5% from 26 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$414.3 million, a gain of 9.5% from HK$378.2 million in the year-earlier period.

Total revenue increased year over year to HK$3.77 billion from HK$3.66 billion, and total operating expenses increased year over year to HK$3.12 billion from HK$3.08 billion.

Reported net income grew 16.3% from the prior-year period to HK$622.2 million, or 43 cents per share, from HK$535.2 million, or 37 cents per share.