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Win Hanverky Holdings H2 profit falls YOY

Win Hanverky Holdings Ltd. said its second-half normalized net income was 4 Hong Kong cents per share, a decrease of 22.2% from 5 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$49.4 million, a decrease of 21.4% from HK$62.8 million in the prior-year period.

Total revenue grew year over year to HK$1.99 billion from HK$1.96 billion, and total operating expenses rose 5.7% from the prior-year period to HK$1.93 billion from HK$1.82 billion.

Reported net income decreased 61.0% from the prior-year period to HK$37.4 million, or 3 cents per share, from HK$95.9 million, or 8 cents per share.

For the year, the company's normalized net income totaled 11 cents per share, a fall of 11.0% from 12 cents per share in the prior year.

Normalized net income was HK$137.1 million, a fall of 9.8% from HK$152.1 million in the prior year.

Full-year total revenue increased year over year to HK$4.03 billion from HK$3.84 billion, and total operating expenses grew 7.1% year over year to HK$3.82 billion from HK$3.57 billion.

The company said reported net income fell 41.1% on an annual basis to HK$143.1 million, or 11 cents per share, in the full year, from HK$243.1 million, or 19 cents per share.