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China Ting Group H1 profit falls YOY

China Ting Group Holdings Ltd said its normalized net income for the first half came to 2 Hong Kong cents per share, a decrease of 38.6% from 3 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$40.9 million, a decrease of 38.6% from HK$66.6 million in the prior-year period.

Total revenue fell 10.2% on an annual basis to HK$1.13 billion from HK$1.26 billion, and total operating expenses declined 9.8% on an annual basis to HK$1.07 billion from HK$1.19 billion.

Reported net income rose on an annual basis to HK$56.2 million, or 3 cents per share, from HK$5.6 million, or 0 cents per share.