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Evershine Group Q4 loss widens YOY

Evershine Group Holdings Ltd. said its normalized net income for the fourth quarter was a loss of HK$11.3 million, compared with a loss of HK$3.5 million in the prior-year period.

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

The normalized profit margin fell to negative 20.4% from negative 15.2% in the year-earlier period.

Total revenue rose on an annual basis to HK$54.5 million from HK$22.9 million, and total operating expenses increased year over year to HK$72.0 million from HK$28.2 million.

Reported net income totaled HK$1.4 million, or 0 cents per share, compared to a loss of HK$6.1 million, or a loss of 1 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 2 cents per share, compared with a loss of 2 cents per share in the prior year.

Normalized net income was a loss of HK$19.0 million, compared with a loss of HK$10.7 million in the prior year.

Full-year total revenue rose 61.1% year over year to HK$73.8 million from HK$45.8 million, and total operating expenses rose 70.2% year over year to HK$103.6 million from HK$60.9 million.

The company said reported net income totaled a loss of HK$11.1 million, or a loss of 1 cents per share, in the full year, compared with a loss of HK$18.0 million, or a loss of 3 cents per share, the prior year.