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Pak Tak International fiscal H1 profit falls YOY

Pak Tak International Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to HK$2.6 million, a decline of 71.7% from HK$9.1 million in the prior-year period.

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

Total revenue decreased 13.4% year over year to HK$229.5 million from HK$264.9 million, and total operating expenses declined 10.9% from the prior-year period to HK$223.7 million from HK$251.1 million.

Reported net income grew 8.6% on an annual basis to HK$13.1 million, or 1 cents per share, from HK$12.0 million, or 1 cents per share.