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Aitken Spence Hotel Holdings fiscal Q3 profit falls YOY

Aitken Spence Hotel Holdings PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 94 Sri Lankan cents per share, a decrease of 14.0% from 1.10 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 318.1 million rupees, a decrease of 14.3% from 371.2 million rupees in the year-earlier period.

The normalized profit margin dropped to 9.5% from 11.3% in the year-earlier period.

Total revenue increased year over year to 3.36 billion rupees from 3.29 billion rupees, and total operating expenses decreased year over year to 2.29 billion rupees from 2.33 billion rupees.

Reported net income grew 17.0% on an annual basis to 638.0 million rupees, or 1.89 rupees per share, from 545.4 million rupees, or 1.61 rupees per share.

As of Feb. 11, US$1 was equivalent to 132.80 Sri Lankan rupees.