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Royal Orchid Hotel (Thailand) swings to profit in Q4

Royal Orchid Hotel (Thailand) PCL said its normalized net income for the fourth quarter came to 18.4 million baht, compared with a loss of 921,320 baht in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 8.2% from negative 0.5% in the year-earlier period.

Total revenue increased 10.1% year over year to 224.8 million baht from 204.2 million baht, and total operating expenses fell on an annual basis to 195.9 million baht from 204.9 million baht.

Reported net income totaled 21.5 million baht, or 23 satang per share, compared to a loss of 37.1 million baht, or a loss of 40 satang per share, in the prior-year period.

For the year, the company's normalized net income totaled 70 satang per share, compared with a loss of 68 satang per share in the prior year.

Normalized net income was 65.3 million baht, compared with a loss of 63.5 million baht in the prior year.

Full-year total revenue rose 27.7% on an annual basis to 850.6 million baht from 665.9 million baht, and total operating expenses decreased on an annual basis to 746.7 million baht from 764.4 million baht.

The company said reported net income totaled 83.2 million baht, or 89 satang per share, in the full year, compared with a loss of 138.4 million baht, or a loss of 1.48 baht per share, the prior year.

As of Feb. 18, US$1 was equivalent to 35.59 baht.