Pamodzi Hotels PLC said its normalized net income for the fiscal second half ended March 31 was 359,710 kwachas, a gain from 102,570 kwachas in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue increased 10.8% year over year to 28.1 million kwachas from 25.3 million kwachas, and total operating expenses increased 8.6% from the prior-year period to 25.8 million kwachas from 23.7 million kwachas.
Reported net income totaled 1.7 million kwachas, or 2 ngwee per share, compared to a loss of 330,250 kwachas, or a loss of 0 ngwee per share, in the prior-year period.
For the year, the company's normalized net income totaled 2 ngwee per share, compared with 2 ngwee per share in the prior year.
Normalized net income was 1.6 million kwachas, compared with 1.7 million kwachas in the prior year.
Full-year total revenue grew 8.1% year over year to 56.5 million kwachas from 52.2 million kwachas, and total operating expenses rose 8.4% year over year to 51.9 million kwachas from 47.9 million kwachas.
The company said reported net income rose on an annual basis to 2.9 million kwachas, or 3 ngwee per share, in the full year, from 1.1 million kwachas, or 1 ngwee per share.
As of May 5, US$1 was equivalent to 7.35 Zambian kwachas.
