Herald Holdings Ltd said its normalized net income for the fiscal first half ended Sept. 30 came to 3 Hong Kong cents per share, a gain of 13.8% from 3 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$17.8 million, a gain of 13.8% from HK$15.6 million in the year-earlier period.

Total revenue increased 15.8% on an annual basis to HK$814.0 million from HK$703.0 million, and total operating expenses rose 15.9% from the prior-year period to HK$787.6 million from HK$679.7 million.

Reported net income fell from the prior-year period to HK$18.0 million, or 3 cents per share, from HK$18.9 million, or 3 cents per share.