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Suga International fiscal H1 profit falls YOY

Suga International Holdings Ltd said its normalized net income for the fiscal first half ended Sept. 30 was 9 Hong Kong cents per share, a decline of 9.2% from 10 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$23.9 million, a decrease of 9.1% from HK$26.3 million in the prior-year period.

Total revenue grew 11.9% year over year to HK$680.4 million from HK$608.2 million, and total operating expenses climbed 13.9% on an annual basis to HK$648.5 million from HK$569.2 million.

Reported net income increased on an annual basis to HK$149.1 million, or 55 cents per share, from HK$37.5 million, or 14 cents per share.