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Asia Standard Hotel fiscal H1 profit climbs 16.2% YOY

Asia Standard Hotel Group Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to 5 Hong Kong cents per share, an increase of 16.2% from 5 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 HK$82.5 million, an increase of 16.2% from HK$71.0 million in the year-earlier period.

Total revenue increased 16.7% on an annual basis to HK$377.9 million from HK$323.9 million, and total operating expenses climbed 17.7% on an annual basis to HK$237.7 million from HK$202.0 million.

Reported net income fell 27.4% on an annual basis to HK$171.7 million, or 11 cents per share, from HK$236.5 million, or 15 cents per share.