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Lifestyle International H2 profit falls YOY

Lifestyle International Holdings Ltd said its second-half normalized net income came to 36 Hong Kong cents per share, a decrease of 27.5% from 50 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$583.5 million, a decline of 28.6% from HK$817.6 million in the year-earlier period.

Total revenue came to HK$3.10 billion, compared with HK$3.09 billion in the prior-year period, and total operating expenses came to HK$2.00 billion, compared with HK$2.01 billion in the prior-year period.

Reported net income decreased 34.0% year over year to HK$743.3 million, or 46 cents per share, from HK$1.13 billion, or 69 cents per share.

For the year, the company's normalized net income totaled 88 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of HK$1.30.

EPS declined 6.7% from 95 cents in the prior year.

Normalized net income was HK$1.43 billion, a fall of 8.0% from HK$1.55 billion in the prior year.

Full-year total revenue rose on an annual basis to HK$6.17 billion from HK$5.97 billion, and total operating expenses increased year over year to HK$3.98 billion from HK$3.84 billion.

The company said reported net income fell 10.7% year over year to HK$1.91 billion, or HK$1.19 per share, in the full year, from HK$2.14 billion, or HK$1.31 per share.