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Hoya Resort Q3 profit falls YOY

Hoya Resort Hotel Group said its third-quarter normalized net income amounted to 54 Taiwan cents per share, a decrease of 28.2% from 75 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 NT$24.1 million, a decline of 28.2% from NT$33.6 million in the prior-year period.

The normalized profit margin fell to 12.4% from 15.8% in the year-earlier period.

Total revenue decreased 8.7% year over year to NT$193.8 million from NT$212.4 million, and total operating expenses decreased from the prior-year period to NT$155.1 million from NT$157.9 million.

Reported net income decreased 28.6% on an annual basis to NT$33.4 million, or 75 cents per share, from NT$46.7 million, or NT$1.05 per share.

As of Nov. 12, US$1 was equivalent to NT$32.73.