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Royal Orchid Hotel (Thailand) swings to profit in Q2

Royal Orchid Hotel (Thailand) PCL said its second-quarter normalized net income amounted to 7 satang per share, compared with a loss of 30 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 6.4 million baht, compared with a loss of 27.9 million baht in the year-earlier period.

The normalized profit margin increased to 3.5% from negative 21.6% in the year-earlier period.

Total revenue increased 42.7% on an annual basis to 184.6 million baht from 129.3 million baht, and total operating expenses totaled 174.5 million baht, compared with 173.4 million baht in the year-earlier period.

Reported net income came to 8.7 million baht, or 9 satang per share, compared to a loss of 35.1 million baht, or a loss of 37 satang per share, in the year-earlier period.

As of Aug. 6, US$1 was equivalent to 35.15 baht.