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Lealea Hotels & Resorts Q3 profit falls YOY

Lealea Hotels & Resorts Co. Ltd. said its normalized net income for the third quarter amounted to 14 Taiwan cents per share, a decrease of 60.9% from 37 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$1.5 million, a decrease of 60.2% from NT$3.7 million in the year-earlier period.

The normalized profit margin fell to 1.2% from 9.9% in the year-earlier period.

Total revenue rose on an annual basis to NT$124.9 million from NT$37.2 million, and total operating expenses climbed on an annual basis to NT$120.8 million from NT$32.4 million.

Reported net income decreased 63.7% on an annual basis to NT$2.1 million, or 21 cents per share, from NT$5.9 million, or 59 cents per share.

As of Nov. 16, US$1 was equivalent to NT$32.83.