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Aitken Spence Hotel Holdings fiscal Q1 profit climbs 7.2% YOY

Aitken Spence Hotel Holdings PLC said its normalized net income for the fiscal first quarter ended June 30 was 57 Sri Lankan cents per share, a gain of 7.6% from 53 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 191.6 million rupees, an increase of 7.2% from 178.6 million rupees in the year-earlier period.

The normalized profit margin climbed to 7.5% from 7.2% in the year-earlier period.

Total revenue climbed year over year to 2.54 billion rupees from 2.47 billion rupees, and total operating expenses climbed 11.9% year over year to 2.22 billion rupees from 1.98 billion rupees.

Reported net income increased 8.8% from the prior-year period to 284.7 million rupees, or 84 cents per share, from 261.8 million rupees, or 77 cents per share.

As of Aug. 8, US$1 was equivalent to 130.19 Sri Lankan rupees.