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Plastoform Holdings Q1 loss widens 28.9% YOY

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Plastoform Holdings Q1 loss widens 28.9% YOY

4911003 said its first-quarter normalized net income was a loss of 13 Hong Kong cents per share, compared with a loss of 10 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of HK$5.1 million, compared with a loss of HK$3.9 million in the year-earlier period.

The normalized profit margin dropped to negative 11.6% from negative 5.9% in the year-earlier period.

Total revenue declined 34.6% year over year to HK$43.6 million from HK$66.6 million, and total operating expenses decreased 29.1% on an annual basis to HK$51.7 million from H Plastoform Holdings Ltd..