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Plastoform Holdings Q2 loss widens 34.1% YOY

Plastoform Holdings Ltd. said its normalized net income for the second quarter came to a loss of 19 Hong Kong cents per share, compared with a loss of 14 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 a loss of HK$7.8 million, compared with a loss of HK$5.8 million in the prior-year period.

The normalized profit margin dropped to negative 21.1% from negative 10.8% in the year-earlier period.

Total revenue declined 31.7% year over year to HK$36.9 million from HK$54.1 million, and total operating expenses declined 22.1% on an annual basis to HK$49.4 million from HK$63.4 million.

Reported net income totaled a loss of HK$12.5 million, or a loss of 31 cents per share, compared to a loss of HK$9.4 million, or a loss of 23 cents per share, in the year-earlier period.