Pacific Textiles Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to 26 Hong Kong cents per share, a decline of 21.0% from 33 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$378.2 million, a decrease of 20.9% from HK$478.2 million in the year-earlier period.
Total revenue decreased 10.5% year over year to HK$3.66 billion from HK$4.09 billion, and total operating expenses declined 7.6% year over year to HK$3.08 billion from HK$3.33 billion.
Reported net income decreased 17.7% from the prior-year period to HK$535.2 million, or 37 cents per share, from HK$650.3 million, or 45 cents per share.
