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Laguna Resorts & Hotels Q4 profit climbs YOY

Laguna Resorts & Hotels PCL said its fourth-quarter normalized net income was 1.31 baht per share, a gain from 39 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 217.9 million baht, an increase from 65.3 million baht in the year-earlier period.

The normalized profit margin rose to 9.2% from 5.3% in the year-earlier period.

Total revenue grew 93.8% year over year to 2.37 billion baht from 1.22 billion baht, and total operating expenses climbed 82.5% on an annual basis to 1.94 billion baht from 1.07 billion baht.

Reported net income rose from the prior-year period to 283.6 million baht, or 1.70 baht per share, from 85.0 million baht, or 51 satang per share.

For the year, the company's normalized net income totaled 1.03 baht per share, compared with a loss of 26 satang per share in the prior year.

Normalized net income was 171.6 million baht, compared with a loss of 42.8 million baht in the prior year.

Full-year total revenue rose 39.3% on an annual basis to 5.54 billion baht from 3.98 billion baht, and total operating expenses grew 31.2% year over year to 5.13 billion baht from 3.91 billion baht.

The company said reported net income increased year over year to 175.3 million baht, or 1.05 baht per share, in the full year, from 18.1 million baht, or 11 satang per share.

As of Feb. 23, US$1 was equivalent to 35.75 baht.