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John Keells Hotels fiscal Q3 profit falls YOY

John Keells Hotels PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 22 Sri Lankan cents per share, a decrease from 23 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 311.0 million rupees, a decrease of 5.8% from 330.2 million rupees in the prior-year period.

The normalized profit margin fell to 10.7% from 11.5% in the year-earlier period.

Total revenue totaled 2.88 billion rupees, compared with 2.88 billion rupees in the year-earlier period, and total operating expenses rose on an annual basis to 2.35 billion rupees from 2.27 billion rupees.

Reported net income fell 7.6% from the prior-year period to 417.6 million rupees, or 29 cents per share, from 451.9 million rupees, or 31 cents per share.

As of Jan. 30, US$1 was equivalent to 132.17 Sri Lankan rupees.