Mandarin Hotel PCL said its first-quarter normalized net income was 19 satang per share, a gain from 4 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.2 million baht, a gain from 1.1 million baht in the prior-year period.

The normalized profit margin climbed to 5.9% from 1.3% in the year-earlier period.

Total revenue climbed 10.2% year over year to 89.4 million baht from 81.1 million baht, and total operating expenses climbed from the prior-year period to 77.4 million baht from 74.7 million baht.

Reported net income increased year over year to 16.5 million baht, or 61 satang per share, from 3.8 million baht, or 14 satang per share.

As of May 12, US$1 was equivalent to 35.33 baht.