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Hotel Holiday Garden Q2 profit falls YOY

Hotel Holiday Garden said its second-quarter normalized net income came to 17 Taiwan cents per share, a decline of 17.1% from 20 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$16.9 million, a decline of 17.1% from NT$20.4 million in the prior-year period.

The normalized profit margin fell to 9.5% from 10.9% in the year-earlier period.

Total revenue fell year over year to NT$179.0 million from NT$187.5 million, and total operating expenses fell on an annual basis to NT$147.9 million from NT$151.1 million.

Reported net income fell 21.1% year over year to NT$14.4 million, or 14 cents per share, from NT$18.3 million, or 18 cents per share.

As of Aug. 11, US$1 was equivalent to NT$32.22.