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Hotel Royal Chihpen Q1 profit falls YOY

Hotel Royal Chihpen said its first-quarter normalized net income came to 32 Taiwan cents per share, a decline from 33 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 NT$12.5 million, a decrease from NT$12.9 million in the prior-year period.

The normalized profit margin fell to 13.6% from 13.8% in the year-earlier period.

Total revenue declined year over year to NT$91.8 million from NT$93.5 million, and total operating expenses declined on an annual basis to NT$72.3 million from NT$73.4 million.

Reported net income totaled NT$17.2 million, or 44 cents per share, compared to NT$17.2 million, or 44 cents per share, in the year-earlier period.

As of May 10, US$1 was equivalent to NT$32.55.