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Lighthouse Hotel fiscal Q4 profit falls YOY

Lighthouse Hotel PLC said its normalized net income for the fiscal fourth quarter ended March 31 was 94 Sri Lankan cents per share, a decrease of 20.9% from 1.19 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 43.1 million rupees, a decline of 20.9% from 54.4 million rupees in the year-earlier period.

The normalized profit margin declined to 19.2% from 21.8% in the year-earlier period.

Total revenue fell 10.2% year over year to 224.9 million rupees from 250.3 million rupees, and total operating expenses decreased 5.7% year over year to 153.8 million rupees from 163.1 million rupees.

Reported net income declined 12.7% year over year to 72.5 million rupees, or 1.58 rupees per share, from 83.0 million rupees, or 1.81 rupees per share.

For the year, the company's normalized net income totaled 1.84 rupees per share, compared with 1.85 rupees per share in the prior year.

Normalized net income was 84.7 million rupees, compared with 85.1 million rupees in the prior year.

Full-year total revenue grew 7.4% from the prior-year period to 731.7 million rupees from 681.1 million rupees, and total operating expenses rose 6.8% year over year to 587.9 million rupees from 550.3 million rupees.

The company said reported net income increased 5.8% year over year to 129.4 million rupees, or 2.81 rupees per share, in the full year, from 122.3 million rupees, or 2.66 rupees per share.

As of May 28, US$1 was equivalent to 134.15 Sri Lankan rupees.