Asian Hotels & Properties PLC said its normalized net income for the fiscal first quarter ended June 30 came to 54 Sri Lankan cents per share, a decrease of 7.5% from 59 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 240.6 million rupees, a decline of 7.1% from 259.0 million rupees in the year-earlier period.
The normalized profit margin fell to 13.6% from 14.8% in the year-earlier period.
Total revenue rose on an annual basis to 1.77 billion rupees from 1.75 billion rupees, and total operating expenses rose 5.6% on an annual basis to 1.39 billion rupees from 1.32 billion rupees.
Reported net income fell 14.3% from the prior-year period to 337.0 million rupees, or 76 cents per share, from 393.1 million rupees, or 89 cents per share.
As of July 30, US$1 was equivalent to 130.22 Sri Lankan rupees.
