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Hotel Royal Q3 profit climbs YOY

Hotel Royal Ltd said its normalized net income for the third quarter was S$2.0 million, an increase from S$745,000 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 13.7% from 5.3% in the year-earlier period.

Total revenue increased 7.0% on an annual basis to S$15.1 million from S$14.1 million, and total operating expenses declined 6.1% on an annual basis to S$11.1 million from S$11.8 million.

Reported net income increased year over year to S$2.2 million, or 3 cents per share, from S$253,000, or 0 cents per share.

As of Nov. 9, US$1 was equivalent to S$1.40.