Ceylon Hotels Corp. PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 7 Sri Lankan cents per share, a decrease of 22.5% from 9 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 decline of 25.3% from 17.5 million rupees in the year-earlier period.
The normalized profit margin climbed to 5.8% from 5.3% in the year-earlier period.
Total revenue fell 12.1% on an annual basis to 290.3 million rupees from 330.4 million rupees, and total operating expenses decreased 6.0% year over year to 231.5 million rupees from 246.3 million rupees.
Reported net income decreased 11.6% on an annual basis to 18.8 million rupees, or 11 cents per share, from 21.3 million rupees, or 11 cents per share.
As of Feb. 12, US$1 was equivalent to 132.72 Sri Lankan rupees.
