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Shangri-La Hotel PCL Q1 profit climbs YOY

Shangri-La Hotel Public Company Ltd said its first-quarter normalized net income came to 1.55 baht per share, a gain from 56 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 201.7 million baht, an increase from 72.4 million baht in the prior-year period.

The normalized profit margin increased to 28.3% from 12.9% in the year-earlier period.

Total revenue rose 23.9% year over year to 696.8 million baht from 562.5 million baht, and total operating expenses decreased year over year to 440.4 million baht from 446.1 million baht.

Reported net income rose from the prior-year period to 271.9 million baht, or 2.09 baht per share, from 92.9 million baht, or 71 satang per share.

As of May 11, US$1 was equivalent to 33.71 baht.