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S Culture International H2 loss widens YOY

S. Culture International Holdings Ltd. said its normalized net income for the second half came to a loss of HK$7.2 million, compared with a loss of HK$770,630 in the year-earlier period.

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

Total revenue decreased on an annual basis to HK$291.6 million from HK$298.9 million, and total operating expenses totaled HK$301.0 million, compared with HK$299.9 million in the prior-year period.

Reported net income totaled a loss of HK$11.7 million, or a loss of 6 cents per share, compared to a loss of HK$1.8 million, or a loss of 1 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 5 cents per share, compared with 4 cents per share in the prior year.

Normalized net income was a loss of HK$10.2 million, compared with income of HK$7.6 million in the prior year.

Full-year total revenue decreased from the prior-year period to HK$561.0 million from HK$590.5 million, and total operating expenses came to HK$574.2 million, compared with HK$577.9 million in the year-earlier period.

The company said reported net income totaled a loss of HK$16.4 million, or a loss of 8 cents per share, in the full year, compared with income of HK$9.0 million, or 5 cents per share, the prior year.