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Hotel Royal Q1 profit falls YOY

4982407 said its first-quarter normalized net income amounted to 2 Singapore cents per share, a decrease of 24.9% from 2 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 S$1.5 million, a decline of 24.9% from S$2.0 million in the year-earlier period.

The normalized profit margin declined to 10.0% from 16.1% in the year-earlier period.

Total revenue rose 20.8% on an annual basis to S$15.3 million from S$12.7 million, and total operating expenses grew 34.0% from the prior-year period to S$11.9 million from S$8.9 million.

eported net income decreased 15.4% from Hotel Royal Ltd.