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Fulum Group fiscal Q2 profit falls YOY

Fulum Group Holdings Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 2 Hong Kong cents per share, a decline of 22.5% from 3 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$19.7 million, a decline of 22.5% from HK$25.4 million in the prior-year period.

The normalized profit margin declined to 3.5% from 4.6% in the year-earlier period.

Total revenue increased 10.6% year over year to HK$613.8 million from HK$554.9 million, and total operating expenses increased 14.1% on an annual basis to HK$582.0 million from HK$509.9 million.

Reported net income decreased year over year to HK$33.2 million, or 3 cents per share, from HK$33.6 million, or 3 cents per share.