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SDM Group swings to loss in Q1

SDM Group Holdings Ltd. said its first-quarter normalized net income came to a loss of HK$572,880, compared with income of HK$1.3 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 declined to negative 3.6% from 8.9% in the year-earlier period.

Total revenue climbed 6.0% year over year to HK$14.9 million from HK$14.1 million, and total operating expenses rose 30.3% year over year to HK$16.1 million from HK$12.3 million.

Reported net income came to a loss of HK$952,000, or a loss of 0 cents per share, compared to income of HK$1.7 million, or 1 cents per share, in the prior-year period.