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Herald Holdings fiscal H1 profit falls YOY

Herald Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to 3 Hong Kong cents per share, a decline of 10.0% from 3 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$15.6 million, a decline of 10.0% from HK$17.3 million in the year-earlier period.

Total revenue totaled HK$703.0 million, compared with HK$707.6 million in the year-earlier period, and total operating expenses came to HK$679.7 million, compared with HK$678.9 million in the prior-year period.

Reported net income fell 16.1% from the prior-year period to HK$18.9 million, or 3 cents per share, from HK$22.5 million, or 4 cents per share.