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John Keells Hotels fiscal Q4 profit falls YOY

John Keells Hotels PLC said its normalized net income for the fiscal fourth quarter ended March 31 was 48 Sri Lankan cents per share, a decrease from 49 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 700.9 million rupees, a decrease from 716.5 million rupees in the prior-year period.

The normalized profit margin fell to 20.1% from 20.4% in the year-earlier period.

Total revenue came to 3.48 billion rupees, compared with 3.51 billion rupees in the prior-year period, and total operating expenses climbed on an annual basis to 2.40 billion rupees from 2.34 billion rupees.

Reported net income totaled 965.2 million rupees, or 66 cents per share, compared to 967.8 million rupees, or 66 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 93 cents per share, an increase of 15.8% from 80 cents per share in the prior year.

Normalized net income was 1.36 billion rupees, a rise of 15.8% from 1.17 billion rupees in the prior year.

Full-year total revenue increased year over year to 11.38 billion rupees from 10.97 billion rupees, and total operating expenses grew on an annual basis to 9.13 billion rupees from 8.80 billion rupees.

The company said reported net income increased 18.4% year over year to 1.85 billion rupees, or 1.27 rupees per share, in the full year, from 1.57 billion rupees, or 1.08 rupees per share.

As of June 4, US$1 was equivalent to 134.13 Sri Lankan rupees.