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Hotel Royal Chihpen Q2 profit falls YOY

Hotel Royal Chihpen said its normalized net income for the second quarter came to NT$300,630, a decline of 76.6% from NT$1.3 million in the year-earlier period.

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

The normalized profit margin dropped to 0.5% from 2.0% in the year-earlier period.

Total revenue fell on an annual basis to NT$61.4 million from NT$64.1 million, and total operating expenses decreased on an annual basis to NT$62.3 million from NT$63.9 million.

Reported net income declined 67.8% on an annual basis to NT$608,000, or 2 cents per share, from NT$1.9 million, or 5 cents per share.

As of Aug. 15, US$1 was equivalent to NT$31.33.