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China Lodging Q1 loss narrows YOY

Huazhu Group Ltd. said its first-quarter normalized net income was a loss of 8 fen per share, compared with the S&P Capital IQ consensus estimate of 7 fen per share.

The per-share loss decreased 52.7% year over year from 16 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.9 million yuan, compared with a loss of 10.2 million yuan in the prior-year period.

The normalized profit margin increased to negative 0.4% from negative 1.0% in the year-earlier period.

Total revenue climbed 17.1% on an annual basis to 1.21 billion yuan from 1.03 billion yuan, and total operating expenses rose 15.9% from the prior-year period to 1.22 billion yuan from 1.05 billion yuan.

Reported net income totaled a loss of 7.5 million yuan, or a loss of 12 fen per share, compared to a loss of 12.4 million yuan, or a loss of 22 fen per share, in the year-earlier period.

As of May 14, US$1 was equivalent to 6.20 yuan.