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Central Plaza Hotel profit misses consensus by 31.5% in Q4

Central Plaza Hotel Public Company Ltd said its fourth-quarter normalized net income was 19 satang per share, compared with the S&P Capital IQ consensus estimate of 28 satang per share.

EPS decreased 5.9% year over year from 20 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 259.1 million baht, a decrease of 5.9% from 275.4 million baht in the prior-year period.

The normalized profit margin declined to 5.0% from 5.6% in the year-earlier period.

Total revenue climbed year over year to 4.98 billion baht from 4.92 billion baht, and total operating expenses rose on an annual basis to 4.33 billion baht from 4.26 billion baht.

Reported net income decreased 36.7% on an annual basis to 302.0 million baht, or 22 satang per share, from 477.0 million baht, or 35 satang per share.

For the year, the company's normalized net income totaled 95 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.34 baht.

EPS rose 49.3% from 64 satang in the prior year.

Normalized net income was 1.28 billion baht, an increase of 49.3% from 859.9 million baht in the prior year.

Full-year total revenue grew 5.2% from the prior-year period to 19.25 billion baht from 18.30 billion baht, and total operating expenses rose year over year to 16.60 billion baht from 16.26 billion baht.

The company said reported net income grew 41.0% on an annual basis to 1.68 billion baht, or 1.24 baht per share, in the full year, from 1.19 billion baht, or 88 satang per share.

As of Feb. 29, US$1 was equivalent to 35.64 baht.