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Elegant Hotels fiscal H1 profit climbs 14.5% YOY

Elegant Hotels Group PLC said its normalized net income for the fiscal first half ended March 31 amounted to 13 cents per share, an increase of 11.8% from 12 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 $7.6 million, a gain of 14.5% from $6.6 million in the year-earlier period.

Total revenue grew 7.6% on an annual basis to $36.4 million from $33.9 million, and total operating expenses rose from the prior-year period to $22.7 million from $22.1 million.

Reported net income grew 14.1% on an annual basis to $10.0 million, or 18 cents per share, from $8.7 million, or 16 cents per share.