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Laguna Resorts & Hotels Q1 profit climbs YOY

Laguna Resorts & Hotels Public Co. Ltd said its normalized net income for the first quarter came to 94 satang per share, an increase from 40 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 156.2 million baht, an increase from 66.1 million baht in the prior-year period.

The normalized profit margin climbed to 9.5% from 5.3% in the year-earlier period.

Total revenue grew 30.3% year over year to 1.64 billion baht from 1.26 billion baht, and total operating expenses rose 18.2% on an annual basis to 1.32 billion baht from 1.12 billion baht.

Reported net income grew 87.5% on an annual basis to 189.7 million baht, or 1.14 baht per share, from 101.2 million baht, or 61 satang per share.

As of May 11, US$1 was equivalent to 35.21 baht.