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YGM Trading fiscal H1 profit falls YOY

YGM Trading Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to 9 Hong Kong cents per share, a decrease of 75.6% from 36 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$14.5 million, a decrease of 75.6% from HK$59.3 million in the year-earlier period.

Total revenue declined 13.4% on an annual basis to HK$510.9 million from HK$589.7 million, and total operating expenses fell year over year to HK$488.7 million from HK$495.6 million.

Reported net income decreased 81.2% from the prior-year period to HK$20.9 million, or 13 cents per share, from HK$111.1 million, or 67 cents per share.