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Evershine Group Q2 loss widens YOY

Evershine Group Holdings Ltd. said its second-quarter normalized net income was a loss of HK$6.5 million, compared with a loss of HK$2.3 million in the year-earlier period.

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

The normalized profit margin fell to negative 51.5% from negative 42.1% in the year-earlier period.

Total revenue increased year over year to HK$21.5 million from HK$5.5 million, and total operating expenses increased year over year to HK$31.8 million from HK$9.2 million.

Reported net income came to a loss of HK$9.9 million, or a loss of 1 cents per share, compared to a loss of HK$3.8 million, or a loss of 0 cents per share, in the year-earlier period.