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Ambassador Hotel Q1 profit climbs 8.4% YOY

Ambassador Hotel Ltd. said its first-quarter normalized net income was 25 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 29 cents per share.

EPS rose 8.3% year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$92.7 million, a gain of 8.4% from NT$85.5 million in the prior-year period.

The normalized profit margin rose to 10.0% from 9.6% in the year-earlier period.

Total revenue grew year over year to NT$930.9 million from NT$894.4 million, and total operating expenses grew 5.0% from the prior-year period to NT$781.7 million from NT$744.6 million.

Reported net income increased from the prior-year period to NT$121.5 million, or 33 cents per share, from NT$117.8 million, or 32 cents per share.

As of May 12, US$1 was equivalent to NT$30.75.