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Laguna Resorts & Hotels Q3 loss widens 21.2% YOY

Laguna Resorts & Hotels Public Co. Ltd said its third-quarter normalized net income amounted to a loss of 41 satang per share, compared with a loss of 34 satang 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 68.5 million baht, compared with a loss of 56.5 million baht in the year-earlier period.

The normalized profit margin declined to negative 7.8% from negative 5.2% in the year-earlier period.

Total revenue decreased 19.4% on an annual basis to 882.1 million baht from 1.09 billion baht, and total operating expenses declined 14.7% on an annual basis to 977.7 million baht from 1.15 billion baht.

Reported net income came to a loss of 103.7 million baht, or a loss of 62 satang per share, compared to a loss of 88.2 million baht, or a loss of 53 satang per share, in the year-earlier period.

As of Nov. 9, US$1 was equivalent to 34.98 baht.