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Imperial Hotel fiscal Q3 profit climbs 14.1% YOY

Imperial Hotel Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥23.60 per share, a gain of 14.1% from ¥20.68 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.40 billion, a gain of 14.1% from ¥1.23 billion in the prior-year period.

The normalized profit margin climbed to 9.2% from 8.4% in the year-earlier period.

Total revenue grew on an annual basis to ¥15.17 billion from ¥14.55 billion, and total operating expenses increased from the prior-year period to ¥13.01 billion from ¥12.69 billion.

Reported net income rose 25.4% on an annual basis to ¥1.56 billion, or ¥26.23 per share, from ¥1.24 billion, or ¥20.92 per share.

As of Feb. 6, US$1 was equivalent to ¥119.01.