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Hoya Resort Q1 profit falls YOY

Hoya Resort Hotel Group said its first-quarter normalized net income was 83 Taiwan cents per share, a decrease of 5.6% from 88 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$37.2 million, a decrease of 5.5% from NT$39.4 million in the prior-year period.

The normalized profit margin declined to 16.1% from 17.5% in the year-earlier period.

Total revenue increased year over year to NT$230.5 million from NT$224.9 million, and total operating expenses rose 5.1% on an annual basis to NT$168.7 million from NT$160.5 million.

Reported net income declined on an annual basis to NT$50.9 million, or NT$1.14 per share, from NT$52.2 million, or NT$1.17 per share.

As of July 7, US$1 was equivalent to NT$31.08.