Fortress Resorts PLC said its normalized net income for the fiscal first quarter ended June 30 came to 10 Sri Lankan cents per share, compared with a loss of 1 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.7 million rupees, compared with a loss of 1.2 million rupees in the year-earlier period.
The normalized profit margin increased to 9.7% from negative 1.4% in the year-earlier period.
Total revenue rose 31.0% year over year to 120.7 million rupees from 92.1 million rupees, and total operating expenses increased 16.4% on an annual basis to 111.8 million rupees from 96.1 million rupees.
Reported net income totaled 15.8 million rupees, or 14 cents per share, compared to a loss of 3.4 million rupees, or a loss of 3 cents per share, in the year-earlier period.
As of Aug. 14, US$1 was equivalent to 130.18 Sri Lankan rupees.
