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Allan International fiscal H2 profit falls YOY

Allan International Holdings Ltd. said its normalized net income for the fiscal second half ended March 31 amounted to 2 Hong Kong cents per share, a decline of 64.2% from 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$6.3 million, a decrease of 64.2% from HK$17.5 million in the year-earlier period.

Total revenue declined year over year to HK$863.9 million from HK$894.1 million, and total operating expenses came to HK$859.7 million, compared with HK$868.1 million in the year-earlier period.

Reported net income fell year over year to HK$15.0 million, or 4 cents per share, from HK$15.6 million, or 5 cents per share.

For the year, the company's normalized net income totaled 10 cents per share, a fall of 25.3% from 14 cents per share in the prior year.

Normalized net income was HK$34.1 million, a decline of 25.3% from HK$45.6 million in the prior year.

Full-year total revenue fell from the prior-year period to HK$1.95 billion from HK$2.02 billion, and total operating expenses declined on an annual basis to HK$1.90 billion from HK$1.94 billion.

The company said reported net income declined 15.5% on an annual basis to HK$70.5 million, or 21 cents per share, in the full year, from HK$83.5 million, or 25 cents per share.