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Hotel Grand Central Q3 profit climbs YOY

Hotel Grand Central Ltd. said its normalized net income for the third quarter came to S$3.2 million, a gain from S$698,130 in the year-earlier period.

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

The normalized profit margin increased to 9.7% from 1.9% in the year-earlier period.

Total revenue decreased 7.6% year over year to S$33.5 million from S$36.3 million, and total operating expenses declined 8.9% from the prior-year period to S$27.5 million from S$30.1 million.

Reported net income totaled S$3.5 million, or 1 cents per share, compared to a loss of S$404,000, or a loss of 0 cents per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to S$1.42.