Hotel Royal Ltd said its normalized net income for the fourth quarter amounted to 2 Singapore cents per share, a decline of 38.6% from 3 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$1.8 million, a decrease of 37.6% from S$2.9 million in the prior-year period.
The normalized profit margin fell to 12.7% from 17.8% in the year-earlier period.
Total revenue decreased 12.6% on an annual basis to S$14.0 million from S$16.0 million, and total operating expenses declined 15.5% on an annual basis to S$9.4 million from S$11.1 million.
Reported net income totaled a loss of S$239,000, or a loss of 0 cents per share, compared to income of S$2.8 million, or 3 cents per share, in the prior-year period.
For the year, the company's normalized net income totaled 5 cents per share, a decrease of 49.8% from 11 cents per share in the prior year.
Normalized net income was S$4.6 million, a decline of 49.8% from S$9.2 million in the prior year.
Full-year total revenue grew on an annual basis to S$57.3 million from S$56.7 million, and total operating expenses increased 12.2% on an annual basis to S$44.2 million from S$39.4 million.
The company said reported net income declined 74.1% year over year to S$2.9 million, or 3 cents per share, in the full year, from S$11.2 million, or 13 cents per share.
As of April 13, US$1 was equivalent to S$1.35.