PT Hotel Sahid Jaya International Tbk said its fourth-quarter normalized net income was 4.69 rupiah per share, a decrease of 53.1% from 9.99 rupiah per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.25 billion rupiah, a decrease of 53.1% from 11.19 billion rupiah in the year-earlier period.

The normalized profit margin fell to 10.6% from 22.3% in the year-earlier period.

Total revenue decreased on an annual basis to 49.54 billion rupiah from 50.19 billion rupiah, and total operating expenses rose 19.9% year over year to 36.84 billion rupiah from 30.74 billion rupiah.

Reported net income decreased 57.0% year over year to 7.23 billion rupiah, or 6.46 rupiah per share, from 16.81 billion rupiah, or 15.02 rupiah per share.

For the year, the company's normalized net income totaled 45 sen per share, a decrease of 58.0% from 1.08 rupiah per share in the prior year.

Normalized net income was 508.2 million rupiah, a decline of 58.0% from 1.21 billion rupiah in the prior year.

Full-year total revenue rose from the prior-year period to 160.99 billion rupiah from 155.60 billion rupiah, and total operating expenses rose on an annual basis to 151.40 billion rupiah from 148.99 billion rupiah.

The company said reported net income increased year over year to 618.8 million rupiah, or 55 sen per share, in the full year, from 150.2 million rupiah, or 13 sen per share.

As of March 31, US$1 was equivalent to 13,318 rupiah.