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Hotel Holiday Garden Q1 profit falls YOY

Hotel Holiday Garden said its first-quarter normalized net income amounted to 12 Taiwan cents per share, a decline of 7.4% from 13 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$12.5 million, a decrease of 7.4% from NT$13.5 million in the year-earlier period.

The normalized profit margin declined to 7.4% from 7.8% in the year-earlier period.

Total revenue declined on an annual basis to NT$169.5 million from NT$172.6 million, and total operating expenses came to NT$145.7 million, compared with NT$147.1 million in the prior-year period.

Reported net income grew 38.0% from the prior-year period to NT$17.9 million, or 18 cents per share, from NT$13.0 million, or 13 cents per share.

As of May 8, US$1 was equivalent to NT$30.70.