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Sona Topas Tourism Industry swings to loss in Q4

PT Sona Topas Tourism Industry Tbk said its fourth-quarter normalized net income was a loss of 10.96 rupiah per share, compared with 11.88 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 a loss of 3.63 billion rupiah, compared with income of 3.93 billion rupiah in the year-earlier period.

The normalized profit margin fell to negative 1.1% from 1.3% in the year-earlier period.

Total revenue climbed 6.6% on an annual basis to 329.23 billion rupiah from 308.81 billion rupiah, and total operating expenses grew 18.7% on an annual basis to 349.75 billion rupiah from 294.54 billion rupiah.

Reported net income came to a loss of 1.85 billion rupiah, or a loss of 5.57 rupiah per share, compared to income of 2.81 billion rupiah, or 8.47 rupiah per share, in the year-earlier period.

For the year, the company's normalized net income totaled 107.26 rupiah per share, a decrease of 60.4% from 270.77 rupiah per share in the prior year.

Normalized net income was 35.52 billion rupiah, a decline of 60.4% from 89.68 billion rupiah in the prior year.

Full-year total revenue increased 17.2% from the prior-year period to 1.430 trillion rupiah from 1.221 trillion rupiah, and total operating expenses grew 24.5% on an annual basis to 1.331 trillion rupiah from 1.069 trillion rupiah.

The company said reported net income decreased 65.8% on an annual basis to 36.87 billion rupiah, or 111.32 rupiah per share, in the full year, from 107.85 billion rupiah, or 325.64 rupiah per share.

As of March 30, US$1 was equivalent to 13,222.50 rupiah.