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Sands China Q2 profit falls YOY

Sands China Ltd. said its normalized net income for the second quarter was 3 cents per share, a decline of 36.4% from 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $250.0 million, a decline of 36.4% from $393.2 million in the prior-year period.

The normalized profit margin declined to 14.2% from 16.6% in the year-earlier period.

Total revenue decreased 25.8% year over year to $1.76 billion from $2.37 billion, and total operating expenses decreased 22.1% on an annual basis to $1.35 billion from $1.73 billion.

Reported net income declined 37.0% year over year to $389.9 million, or 5 cents per share, from $619.1 million, or 8 cents per share.