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Phoenitron Q1 profit climbs YOY

Phoenitron Holdings Ltd. said its normalized net income for the first quarter amounted to HK$3.9 million, a rise from HK$820,510 in the prior-year period.

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

The normalized profit margin declined to 1.3% from 2.4% in the year-earlier period.

Total revenue increased on an annual basis to HK$291.8 million from HK$34.6 million, and total operating expenses climbed on an annual basis to HK$293.6 million from HK$41.5 million.

Reported net income rose on an annual basis to HK$5.8 million, or 2 cents per share, from HK$1.3 million, or 0 cents per share.