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Laguna Resorts & Hotels Q3 loss narrows YOY

Laguna Resorts & Hotels PCL said its normalized net income for the third quarter came to a loss of 34 satang per share, compared with a loss of 44 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 56.5 million baht, compared with a loss of 73.1 million baht in the year-earlier period.

The normalized profit margin increased to negative 5.2% from negative 9.2% in the year-earlier period.

Total revenue rose 37.8% year over year to 1.09 billion baht from 794.6 million baht, and total operating expenses climbed 30.1% from the prior-year period to 1.15 billion baht from 881.6 million baht.

Reported net income came to a loss of 88.2 million baht, or a loss of 53 satang per share, compared to a loss of 105.7 million baht, or a loss of 63 satang per share, in the prior-year period.

As of Nov. 16, US$1 was equivalent to 35.96 baht.