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Leisure & Resorts World Q3 profit climbs 39.0% YOY

Leisure & Resorts World Corp. said its normalized net income for the third quarter amounted to 15 Philippine centavos per share, a gain of 44.9% from 10 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 216.6 million pesos, a gain of 39.0% from 155.8 million pesos in the prior-year period.

The normalized profit margin dropped to 9.7% from 15.7% in the year-earlier period.

Total revenue rose 24.6% on an annual basis to 1.24 billion pesos from 991.5 million pesos, and total operating expenses rose 32.7% on an annual basis to 963.4 million pesos from 726.0 million pesos.

Reported net income increased 53.5% on an annual basis to 346.7 million pesos, or 24 centavos per share, from 225.9 million pesos, or 15 centavos per share.

As of Nov. 12, US$1 was equivalent to 47.00 Philippine pesos.