Pavillon Holdings Ltd. said its first-half normalized net income was a loss of S$571,250, compared with a loss of S$341,880 in the year-earlier period.

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

Total revenue totaled S$9.7 million, compared with S$9.7 million in the year-earlier period, and total operating expenses grew on an annual basis to S$10.8 million from S$10.4 million.

Reported net income came to a loss of S$1.0 million, or a loss of 0 cents per share, compared to a loss of S$434,250, or a loss of 0 cents per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to S$1.40.