Vitasoy International Holdings Ltd. said its normalized net income for the fiscal second half ended March 31 was 11 Hong Kong cents per share, an increase of 12.0% from 10 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 HK$118.0 million, an increase of 12.2% from HK$105.1 million in the year-earlier period.

Total revenue grew 7.2% year over year to HK$2.32 billion from HK$2.17 billion, and total operating expenses climbed 7.1% year over year to HK$2.11 billion from HK$1.97 billion.

Reported net income grew 20.5% from the prior-year period to HK$150.0 million, or 14 cents per share, from HK$124.5 million, or 12 cents per share.

For the year, the company's normalized net income totaled 28 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 36 cents.

EPS rose 15.3% from 24 cents in the prior year.

Normalized net income was HK$290.6 million, an increase of 15.6% from HK$251.3 million in the prior year.

Full-year total revenue increased 12.4% year over year to HK$5.05 billion from HK$4.49 billion, and total operating expenses rose 12.4% year over year to HK$4.53 billion from HK$4.03 billion.

The company said reported net income increased 21.1% on an annual basis to HK$371.6 million, or 36 cents per share, in the full year, from HK$306.8 million, or 29 cents per share.