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Pleasant Hotels International Q2 profit falls YOY

Pleasant Hotels International Inc. said its second-quarter normalized net income amounted to 9 Taiwan cents per share, a decrease of 67.8% 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 NT$1.9 million, a decrease of 67.9% from NT$6.0 million in the prior-year period.

The normalized profit margin declined to 3.1% from 8.8% in the year-earlier period.

Total revenue declined 7.6% on an annual basis to NT$63.4 million from NT$68.6 million, and total operating expenses climbed on an annual basis to NT$61.7 million from NT$59.9 million.

Reported net income declined 73.1% on an annual basis to NT$1.6 million, or 7 cents per share, from NT$5.9 million, or 26 cents per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.