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Ascent International fiscal H1 loss widens 25.2% YOY

Ascent International Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to a loss of 4 Hong Kong cents per share, compared with a loss of 3 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 a loss of HK$11.5 million, compared with a loss of HK$9.1 million in the prior-year period.

Total revenue grew 13.4% on an annual basis to HK$64.6 million from HK$57.0 million, and total operating expenses grew 13.4% from the prior-year period to HK$84.9 million from HK$74.8 million.

Reported net income totaled a loss of HK$16.8 million, or a loss of 5 cents per share, compared to a loss of HK$15.0 million, or a loss of 5 cents per share, in the prior-year period.