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Alco Holdings swings to profit in fiscal H1

Alco Holdings Ltd said its normalized net income for the fiscal first half ended Sept. 30 came to 8 Hong Kong cents per share, compared with a loss of 1 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$48.0 million, compared with a loss of HK$7.0 million in the prior-year period.

Total revenue rose 26.3% on an annual basis to HK$1.38 billion from HK$1.10 billion, and total operating expenses rose 18.2% year over year to HK$1.31 billion from HK$1.11 billion.

Reported net income came to HK$71.3 million, or 12 cents per share, compared to a loss of HK$9.2 million, or a loss of 2 cents per share, in the year-earlier period.