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Cross-Harbour (Holdings) H2 profit climbs 30.6% YOY


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Cross-Harbour (Holdings) H2 profit climbs 30.6% YOY

Cross-Harbour (Holdings) Ltd. said its normalized net income for the second half was 51 Hong Kong cents per share, an increase of 30.6% from 39 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$189.7 million, a gain of 30.6% from HK$145.2 million in the year-earlier period.

Total revenue increased 48.0% year over year to HK$239.9 million from HK$162.0 million, and total operating expenses grew 23.4% year over year to HK$170.4 million from HK$138.1 million.

Reported net income grew 31.0% on an annual basis to HK$304.6 million, or 82 cents per share, from HK$232.5 million, or 62 cents per share.

For the year, the company's normalized net income totaled HK$1.02 per share, a gain of 29.3% from 79 cents per share in the prior year.

Normalized net income was HK$380.3 million, an increase of 29.3% from HK$294.2 million in the prior year.

Full-year total revenue increased 44.5% on an annual basis to HK$444.5 million from HK$307.6 million, and total operating expenses increased 17.6% on an annual basis to HK$290.9 million from HK$247.4 million.

The company said reported net income rose 31.3% year over year to HK$619.8 million, or HK$1.66 per share, in the full year, from HK$472.2 million, or HK$1.27 per share.