4980984 said its normalized net income for the first quarter came to 18 kobo per share, an increase of 60.7% from 11 kobo per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 282.5 million nairas, a gain of 60.7% from 175.8 million nairas in the year-earlier period.

The normalized profit margin increased to 23.4% from 16.9% in the year-earlier period.

Total revenue climbed 16.3% on an annual basis to 1.21 billion nairas from 1.04 billion nairas, and total operating expenses totaled 755.2 million nairas, compared with 757.4 million nairas in the prior-year period.

Reported net income rose 60.3% on an annual basis to 308.1 million nairas, or 20 kobo per share, from 192.2 million nairas, or 12 kobo per share.

s of April 29, US$1 was equivalent to 199.05 nairas.Capital Hotels PLC

4980984 said its normalized net income for the first quarter came to 18 kobo per share, an increase of 60.7% from 11 kobo per share in the year-earlier period.