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Discovery World Q3 profit falls YOY

Discovery World Corp. said its normalized net income for the third quarter came to 285,090 pesos, a fall of 61.1% from 733,590 pesos in the prior-year period.

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

The normalized profit margin dropped to 0.7% from 0.9% in the year-earlier period.

Total revenue increased year over year to 82.2 million pesos from 79.0 million pesos, and total operating expenses climbed 8.1% year over year to 81.5 million pesos from 75.4 million pesos.

Reported net income came to a loss of 5,930 pesos, or a loss of 0 centavos per share, compared to income of 874,430 pesos, or 4 centavos per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to 47.24 Philippine pesos.