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Lighthouse Hotel fiscal Q2 profit climbs 85.7% YOY

Lighthouse Hotel PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 29 Sri Lankan cents per share, a gain of 87.5% from 15 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 13.1 million rupees, a gain of 85.7% from 7.1 million rupees in the year-earlier period.

The normalized profit margin rose to 7.7% from 5.3% in the year-earlier period.

Total revenue rose 28.2% on an annual basis to 171.2 million rupees from 133.5 million rupees, and total operating expenses increased 19.6% from the prior-year period to 148.0 million rupees from 123.8 million rupees.

Reported net income grew on an annual basis to 17.8 million rupees, or 39 cents per share, from 8.3 million rupees, or 18 cents per share.

As of Oct. 30, US$1 was equivalent to 130.90 Sri Lankan rupees.