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Hydro Hotel Eastbourne fiscal H2 profit climbs 38.4% YOY

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Hydro Hotel Eastbourne fiscal H2 profit climbs 38.4% YOY

Hydro Hotel Eastbourne PLC said its normalized net income for the fiscal second half ended Oct. 31, 2015, amounted to 31 Great British pence per share, a gain of 38.4% from 23 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £187,670, a gain of 38.4% from £135,610 in the prior-year period.

Total revenue rose 5.7% on an annual basis to £1.8 million from £1.7 million, and total operating expenses rose on an annual basis to £1.5 million from £1.5 million.

Reported net income increased 43.6% year over year to £270,310, or 45 pence per share, from £188,280, or 31 pence per share.

For the year, the company's normalized net income totaled 14 pence per share, a gain of 8.0% from 13 pence per share in the prior year.

Normalized net income was £83,490, a gain of 8.0% from £77,280 in the prior year.

Full-year total revenue rose from the prior-year period to £3.1 million from £3.1 million, and total operating expenses grew year over year to £3.0 million from £3.0 million.

The company said reported net income rose 9.1% year over year to £103,620, or 17 pence per share, in the full year, from £94,960, or 16 pence per share.