Green World Hotels Co. Ltd. said its normalized net income for the first quarter was 16 Taiwan cents per share, a decrease of 18.1% from 19 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$8.0 million, an increase from NT$3.3 million in the prior-year period.
The normalized profit margin increased to 32.4% from 17.5% in the year-earlier period.
Total revenue rose 32.0% year over year to NT$24.6 million from NT$18.6 million, and total operating expenses fell 16.3% on an annual basis to NT$11.8 million from NT$14.1 million.
Reported net income decreased 7.7% on an annual basis to NT$12.7 million, or 25 cents per share, from NT$13.8 million, or 82 cents per share.
As of May 14, US$1 was equivalent to NT$30.54.
