New Trend Lifestyle Group PLC said its first-half normalized net income amounted to a loss of S$470,000, compared with a loss of S$371,250 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue declined 15.4% on an annual basis to S$3.3 million from S$3.9 million, and total operating expenses declined 10.0% from the prior-year period to S$4.0 million from S$4.5 million.

Reported net income totaled a loss of S$752,000, or a loss of 1 cents per share, compared to a loss of S$594,000, or a loss of 1 cents per share, in the prior-year period.

As of Sept. 28, US$1 was equivalent to S$1.36.