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Lam Soon (Hong Kong) fiscal H1 profit falls YOY

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.