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Hotel Royal Chihpen Q1 profit climbs 19.6% YOY

Hotel Royal Chihpen said its first-quarter normalized net income was 33 Taiwan cents per share, a gain of 19.6% from 28 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 NT$12.9 million, a gain of 19.6% from NT$10.8 million in the year-earlier period.

The normalized profit margin climbed to 13.8% from 12.3% in the year-earlier period.

Total revenue grew 6.8% on an annual basis to NT$93.5 million from NT$87.6 million, and total operating expenses grew year over year to NT$73.4 million from NT$70.8 million.

Reported net income rose 19.8% from the prior-year period to NT$17.2 million, or 44 cents per share, from NT$14.4 million, or 37 cents per share.

As of May 12, US$1 was equivalent to NT$30.75.