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Combine Will International Q1 profit climbs YOY

Combine Will International Holdings Ltd. said its first-quarter normalized net income came to 13 Hong Kong cents per share, a gain from 4 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$4.2 million, a gain from HK$1.3 million in the year-earlier period.

The normalized profit margin climbed to 0.8% from 0.3% in the year-earlier period.

Total revenue grew 30.3% on an annual basis to HK$520.7 million from HK$399.5 million, and total operating expenses rose 29.1% year over year to HK$511.8 million from HK$396.5 million.

Reported net income increased year over year to HK$6.7 million, or 21 cents per share, from HK$1.8 million, or 5 cents per share.