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Shangri-La Hotel PCL Q3 profit climbs YOY

Shangri-La Hotel Public Company Ltd said its normalized net income for the third quarter was 83 satang per share, an increase from 17 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 107.4 million baht, an increase from 21.7 million baht in the year-earlier period.

The normalized profit margin increased to 18.7% from 5.1% in the year-earlier period.

Total revenue rose 34.4% on an annual basis to 573.1 million baht from 426.4 million baht, and total operating expenses grew 8.2% from the prior-year period to 450.8 million baht from 416.7 million baht.

Reported net income grew year over year to 156.2 million baht, or 1.20 baht per share, from 33.7 million baht, or 26 satang per share.

As of Nov. 9, US$1 was equivalent to 35.94 baht.