Mandarin Hotel PCL said its normalized net income for the second quarter amounted to a loss of 18 satang per share, compared with a loss of 42 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.9 million baht, compared with a loss of 11.3 million baht in the prior-year period.

The normalized profit margin climbed to negative 7.1% from negative 21.0% in the year-earlier period.

Total revenue rose 27.7% on an annual basis to 68.4 million baht from 53.6 million baht, and total operating expenses rose 9.6% year over year to 74.2 million baht from 67.7 million baht.

Reported net income totaled a loss of 10.9 million baht, or a loss of 40 satang per share, compared to a loss of 30.1 million baht, or a loss of 1.12 baht per share, in the prior-year period.

As of Aug. 10, US$1 was equivalent to 35.12 baht.