Golden Resources Development International Ltd. said its normalized net income for the fiscal second half ended March 31 was 2 Hong Kong cents per share, a decline of 13.0% from 2 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$35.6 million, a decline of 12.7% from HK$40.8 million in the prior-year period.

Total revenue fell on an annual basis to HK$514.8 million from HK$525.5 million, and total operating expenses totaled HK$472.1 million, compared with HK$475.2 million in the year-earlier period.

Reported net income grew 14.7% year over year to HK$54.2 million, or 3 cents per share, from HK$47.3 million, or 3 cents per share.

For the year, the company's normalized net income totaled 4 cents per share, a gain of 5.8% from 4 cents per share in the prior year.

Normalized net income was HK$71.4 million, an increase of 6.0% from HK$67.4 million in the prior year.

Full-year total revenue increased year over year to HK$1.01 billion from HK$1.00 billion, and total operating expenses came to HK$925.1 million, compared with HK$920.6 million in the year-earlier period.

The company said reported net income rose 73.7% year over year to HK$143.7 million, or 8 cents per share, in the full year, from HK$82.7 million, or 5 cents per share.