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Aitken Spence Hotel Holdings fiscal Q4 profit falls YOY

Aitken Spence Hotel Holdings PLC said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 93 Sri Lankan cents per share, a decline of 20.1% from 1.16 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 312.6 million rupees, a decrease of 20.1% from 391.2 million rupees in the prior-year period.

The normalized profit margin dropped to 7.4% from 9.7% in the year-earlier period.

Total revenue climbed 5.5% year over year to 4.25 billion rupees from 4.03 billion rupees, and total operating expenses grew year over year to 2.55 billion rupees from 2.44 billion rupees.

Reported net income decreased 10.1% year over year to 1.09 billion rupees, or 3.22 rupees per share, from 1.21 billion rupees, or 3.58 rupees per share.

For the year, the company's normalized net income totaled 3.01 rupees per share, a fall of 13.6% from 3.48 rupees per share in the prior year.

Normalized net income was 1.01 billion rupees, a decline of 13.5% from 1.17 billion rupees in the prior year.

Full-year total revenue grew year over year to 12.95 billion rupees from 12.53 billion rupees, and total operating expenses rose 6.2% year over year to 9.51 billion rupees from 8.96 billion rupees.

The company said reported net income decreased year over year to 2.22 billion rupees, or 6.60 rupees per share, in the full year, from 2.33 billion rupees, or 6.92 rupees per share.

As of May 26, US$1 was equivalent to 133.88 Sri Lankan rupees.