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Luxey International swings to profit in fiscal Q3

Luxey International (Holdings) Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to HK$2.6 million, compared with a loss of HK$1.9 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 4.3% from negative 4.7% in the year-earlier period.

Total revenue climbed 47.3% year over year to HK$61.4 million from HK$41.7 million, and total operating expenses climbed 23.9% from the prior-year period to HK$56.1 million from HK$45.2 million.

Reported net income totaled HK$2.6 million, or 0 cents per share, compared to a loss of HK$17.3 million, or a loss of 0 cents per share, in the year-earlier period.