Finet Group Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to a loss of HK$4.3 million, compared with a loss of HK$4.4 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 dropped to negative 126.2% from negative 67.2% in the year-earlier period.
Total revenue fell 48.8% on an annual basis to HK$3.4 million from HK$6.6 million, and total operating expenses increased 22.9% on an annual basis to HK$16.0 million from HK$13.0 million.
Reported net income totaled a loss of HK$7.3 million, or a loss of 2 cents per share, compared to a loss of HK$6.6 million, or a loss of 1 cents per share, in the prior-year period.
