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.
