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Prestige Holdings fiscal Q1 profit falls YOY

Prestige Holdings Ltd. said its normalized net income for the fiscal first quarter ended Feb. 28 came to 17 Trinidad and Tobago cents per share, a decrease of 10.5% from 19 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was TT$10.4 million, a decline of 9.2% from TT$11.4 million in the prior-year period.

The normalized profit margin dropped to 4.4% from 5.1% in the year-earlier period.

Total revenue increased year over year to TT$233.7 million from TT$226.0 million, and total operating expenses rose 5.1% on an annual basis to TT$214.9 million from TT$204.5 million.

Reported net income decreased year over year to TT$11.7 million, or 19 cents per share, from TT$12.0 million, or 20 cents per share.

As of March 31, US$1 was equivalent to TT$6.37.