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Farglory Hotel Q2 profit falls YOY

Farglory Hotel Co. Ltd. said its second-quarter normalized net income came to 12 Taiwan cents per share, a decline of 12.3% from 14 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$12.6 million, a decrease of 12.2% from NT$14.3 million in the prior-year period.

The normalized profit margin declined to 9.8% from 10.4% in the year-earlier period.

Total revenue decreased 7.2% year over year to NT$128.1 million from NT$138.1 million, and total operating expenses fell 5.6% from the prior-year period to NT$108.4 million from NT$114.9 million.

Reported net income declined 15.8% from the prior-year period to NT$16.8 million, or 16 cents per share, from NT$19.9 million, or 19 cents per share.

As of Aug. 11, US$1 was equivalent to NT$32.22.