Lam Soon (Hong Kong) Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 24 Hong Kong cents per share, a decline of 10.0% from 27 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$58.0 million, a decrease of 8.8% from HK$63.6 million in the prior-year period.
Total revenue climbed 5.3% on an annual basis to HK$2.29 billion from HK$2.18 billion, and total operating expenses rose 5.9% year over year to HK$2.19 billion from HK$2.07 billion.
Reported net income fell 10.7% from the prior-year period to HK$72.5 million, or 30 cents per share, from HK$81.2 million, or 34 cents per share.
