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Laguna Resorts & Hotels Q1 profit falls YOY

Laguna Resorts & Hotels PCL said its first-quarter normalized net income was 40 satang per share, a decline of 18.5% from 49 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 66.1 million baht, a decrease of 18.5% from 81.1 million baht in the year-earlier period.

The normalized profit margin declined to 5.3% from 6.7% in the year-earlier period.

Total revenue rose year over year to 1.26 billion baht from 1.21 billion baht, and total operating expenses climbed 8.3% on an annual basis to 1.12 billion baht from 1.03 billion baht.

Reported net income fell from the prior-year period to 101.2 million baht, or 61 satang per share, from 104.9 million baht, or 63 satang per share.

As of May 13, US$1 was equivalent to 33.55 baht.