Laguna Resorts & Hotels PCL said its normalized net income for the second quarter was a loss of 48 satang per share, compared with a loss of 70 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 80.5 million baht, compared with a loss of 116.2 million baht in the prior-year period.

The normalized profit margin rose to negative 9.8% from negative 15.5% in the year-earlier period.

Total revenue increased 9.4% on an annual basis to 819.7 million baht from 749.1 million baht, and total operating expenses decreased on an annual basis to 920.3 million baht from 931.1 million baht.

Reported net income totaled a loss of 121.3 million baht, or a loss of 73 satang per share, compared to a loss of 66.1 million baht, or a loss of 40 satang per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to 35.39 baht.