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Fortress Resorts fiscal Q3 profit climbs 7.6% YOY

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Fortress Resorts fiscal Q3 profit climbs 7.6% YOY

Fortress Resorts PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 40 Sri Lankan cents per share, a gain of 8.6% from 36 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 43.9 million rupees, an increase of 7.6% from 40.8 million rupees in the year-earlier period.

The normalized profit margin climbed to 23.1% from 21.6% in the year-earlier period.

Total revenue came to 189.9 million rupees, compared with 189.0 million rupees in the prior-year period, and total operating expenses came to 132.4 million rupees, compared with 132.4 million rupees in the prior-year period.

Reported net income grew 8.8% on an annual basis to 62.1 million rupees, or 56 cents per share, from 57.1 million rupees, or 51 cents per share.

As of Feb. 10, US$1 was equivalent to 132.84 Sri Lankan rupees.