Hotel Royal Ltd said its first-quarter normalized net income came to 2 Singapore cents per share, an increase of 18.9% from 2 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 S$1.8 million, a gain of 19.1% from S$1.5 million in the prior-year period.
The normalized profit margin climbed to 11.3% from 10.0% in the year-earlier period.
Total revenue came to S$15.2 million, compared with S$15.3 million in the year-earlier period, and total operating expenses fell 5.0% year over year to S$11.3 million from S$11.9 million.
Reported net income came to S$2.2 million, or 3 cents per share, compared to S$2.2 million, or 3 cents per share, in the year-earlier period.
As of May 12, US$1 was equivalent to S$1.37.