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Lighthouse Hotel fiscal Q3 profit falls YOY

Lighthouse Hotel PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 50 Sri Lankan cents per share, a decline of 13.3% from 58 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 23.2 million rupees, a decrease of 12.6% from 26.5 million rupees in the year-earlier period.

The normalized profit margin fell to 11.7% from 14.2% in the year-earlier period.

Total revenue grew 6.2% on an annual basis to 197.8 million rupees from 186.3 million rupees, and total operating expenses increased 10.0% on an annual basis to 158.2 million rupees from 143.9 million rupees.

Reported net income declined 14.6% from the prior-year period to 33.3 million rupees, or 72 cents per share, from 39.0 million rupees, or 85 cents per share.

As of Feb. 10, US$1 was equivalent to 132.84 Sri Lankan rupees.