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Oriental Watch fiscal H1 profit falls YOY

Oriental Watch Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to HK$737,380, a decline of 95.6% from HK$16.8 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue fell 10.4% year over year to HK$1.53 billion from HK$1.71 billion, and total operating expenses decreased 8.7% on an annual basis to HK$1.54 billion from HK$1.69 billion.

Reported net income decreased 44.4% on an annual basis to HK$11.1 million, or 2 cents per share, from HK$19.9 million, or 3 cents per share.