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Hotel Taipei Miramar H2 profit falls YOY

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Hotel Taipei Miramar H2 profit falls YOY

Hotel Taipei Miramar Co. Ltd. said its second-half normalized net income amounted to 13 Taiwan cents per share, a decline of 38.9% from 22 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 NT$5.1 million, a decrease of 39.0% from NT$8.3 million in the prior-year period.

Total revenue came to NT$220.4 million, compared with NT$218.7 million in the year-earlier period, and total operating expenses rose from the prior-year period to NT$210.0 million from NT$204.7 million.

Reported net income came to a loss of NT$37.9 million, or a loss of NT$1.01 per share, compared to income of NT$10.9 million, or 29 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 15 cents per share, a fall of 31.2% from 22 cents per share in the prior year.

Normalized net income was NT$5.6 million, a decline of 31.2% from NT$8.1 million in the prior year.

Full-year total revenue increased on an annual basis to NT$429.7 million from NT$424.0 million, and total operating expenses increased year over year to NT$413.6 million from NT$407.7 million.

The company said reported net income totaled a loss of NT$38.0 million, or a loss of NT$1.01 per share, in the full year, compared with income of NT$10.2 million, or 27 cents per share, the prior year.

As of April 8, US$1 was equivalent to NT$32.36.