Pleasant Hotels International Inc. said its first-quarter normalized net income amounted to 38 Taiwan cents per share, an increase of 81.2% from 21 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$8.7 million, an increase of 81.4% from NT$4.8 million in the prior-year period.

The normalized profit margin rose to 12.7% from 7.3% in the year-earlier period.

Total revenue rose on an annual basis to NT$68.4 million from NT$65.9 million, and total operating expenses fell 6.6% from the prior-year period to NT$55.3 million from NT$59.2 million.

Reported net income increased 89.2% from the prior-year period to NT$11.5 million, or 51 cents per share, from NT$6.1 million, or 27 cents per share.

As of May 15, US$1 was equivalent to NT$30.44.