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Zhong Fa Zhan fiscal H1 loss widens 15.9% YOY

Zhong Fa Zhan Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to a loss of 2 Hong Kong cents per share, compared with a loss of 2 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$5.7 million, compared with a loss of HK$4.9 million in the year-earlier period.

Total revenue decreased 7.7% on an annual basis to HK$38.0 million from HK$41.2 million, and total operating expenses declined year over year to HK$47.4 million from HK$49.2 million.

Reported net income came to a loss of HK$9.1 million, or a loss of 3 cents per share, compared to a loss of HK$7.2 million, or a loss of 3 cents per share, in the prior-year period.