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Mandarin Hotel Q2 loss narrows YOY

Mandarin Hotel PCL said its second-quarter normalized net income was a loss of 14 satang per share, compared with a loss of 18 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 a loss of 3.9 million baht, compared with a loss of 4.9 million baht in the prior-year period.

The normalized profit margin rose to negative 5.6% from negative 7.1% in the year-earlier period.

Total revenue increased on an annual basis to 69.3 million baht from 68.4 million baht, and total operating expenses came to 74.0 million baht, compared with 74.2 million baht in the prior-year period.

Reported net income came to a loss of 19.4 million baht, or a loss of 72 satang per share, compared to a loss of 10.9 million baht, or a loss of 40 satang per share, in the year-earlier period.

As of Aug. 10, US$1 was equivalent to 34.75 baht.