Hikkaduwa Beach Resort PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 20 Sri Lankan cents per share, a decline of 22.9% from 26 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 11.6 million rupees, a decline of 22.9% from 15.0 million rupees in the year-earlier period.
The normalized profit margin declined to 15.5% from 18.4% in the year-earlier period.
Total revenue decreased 8.6% year over year to 74.4 million rupees from 81.4 million rupees, and total operating expenses totaled 56.7 million rupees, compared with 57.2 million rupees in the prior-year period.
Reported net income fell 24.2% from the prior-year period to 18.5 million rupees, or 32 cents per share, from 24.4 million rupees, or 42 cents per share.
As of Feb. 13, US$1 was equivalent to 132.95 Sri Lankan rupees.
