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Shangri-La Hotels (Malaysia) Q2 profit falls YOY

Shangri-La Hotels (Malaysia) Bhd. said its normalized net income for the second quarter came to 3 Malaysian sen per share, compared with 3 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.9 million ringgits, compared with 13.1 million ringgits in the year-earlier period.

The normalized profit margin dropped to 11.6% from 11.9% in the year-earlier period.

Total revenue grew on an annual basis to 111.6 million ringgits from 109.5 million ringgits, and total operating expenses rose 5.2% on an annual basis to 93.9 million ringgits from 89.2 million ringgits.

Reported net income grew from the prior-year period to 16.1 million ringgits, or 4 sen per share, from 15.8 million ringgits, or 4 sen per share.

As of Aug. 23, US$1 was equivalent to 4.02 ringgits.