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Sun International fiscal Q1 loss widens 95.9% YOY

Sun International Group Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of HK$5.0 million, compared with a loss of HK$2.6 million in the year-earlier period.

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

The normalized profit margin fell to negative 11.4% from negative 7.4% in the year-earlier period.

Total revenue rose 28.5% year over year to HK$44.4 million from HK$34.5 million, and total operating expenses increased 99.4% on an annual basis to HK$61.6 million from HK$30.9 million.

Reported net income came to a loss of HK$14.7 million, or a loss of 1 cents per share, compared to a loss of HK$4.6 million, or a loss of 1 cents per share, in the year-earlier period.