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I.T Ltd. fiscal H1 profit climbs 6.5% YOY

I.T Ltd. said its normalized net income for the fiscal first half ended Aug. 31 was 5 Hong Kong cents per share, a gain of 9.1% from 4 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$55.3 million, an increase of 6.5% from HK$51.9 million in the prior-year period.

Total revenue increased 5.1% on an annual basis to HK$3.39 billion from HK$3.23 billion, and total operating expenses increased 5.7% from the prior-year period to HK$3.28 billion from HK$3.11 billion.

Reported net income totaled a loss of HK$31.3 million, or a loss of 3 cents per share, compared to income of HK$48.9 million, or 4 cents per share, in the prior-year period.