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Season Pacific fiscal Q2 profit climbs YOY

Season Pacific Holdings Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was HK$7.5 million, a gain from HK$7.3 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 10.4% from 13.7% in the year-earlier period.

Total revenue rose 34.7% year over year to HK$71.8 million from HK$53.3 million, and total operating expenses rose 43.7% year over year to HK$59.9 million from HK$41.7 million.

Reported net income fell 6.1% on an annual basis to HK$9.1 million, or 1 cents per share, from HK$9.7 million, or 1 cents per share.