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Mandarin Hotel swings to profit in Q3

Mandarin Hotel PCL said its normalized net income for the third quarter amounted to 3.6 million baht, compared with a loss of 234,250 baht in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 4.3% from negative 0.3% in the year-earlier period.

Total revenue rose 8.9% year over year to 83.3 million baht from 76.5 million baht, and total operating expenses climbed from the prior-year period to 76.5 million baht from 74.0 million baht.

Reported net income came to 5.0 million baht, or 19 satang per share, compared to a loss of 20.9 million baht, or a loss of 78 satang per share, in the year-earlier period.

As of Nov. 14, US$1 was equivalent to 35.51 baht.