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I.T Ltd. fiscal H2 profit climbs 11.9% YOY

4910203 said its normalized net income for the fiscal second half ended Feb. 28 amounted to 18 Hong Kong cents per share, an increase of 11.8% from 16 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$223.2 million, a gain of 11.9% from HK$199.4 million in the year-earlier period.

Total revenue rose year over year to HK$3.95 billion from HK$3.81 billion, and total operating expenses increased on an annual basis to HK$3.54 billion from HK$3.43 billion.

Reported net income rose from the prior-year period to HK$263.2 million, or 21 cents per share, from HK$252.4 million, or 20 cents per share.

For the year, the company's normalized net income totaled 22 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 25 cents.

EPS rose 24.4% from 18 cents in the prior year.

Normalized net income was HK$275.1 million, a rise of 24.2% from HK$221.5 million in the prior year.

ull-year total revenue increased 6.4% on an annual basis to HK$7.18 billion from HK$6.75 billion, and total operating expenses increased 5.3% on an annual basis to HK$6.6 I.T Ltd