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First Hotel Q3 profit climbs YOY

First Hotel Co. Ltd. said its normalized net income for the third quarter came to 24 Taiwan cents per share, compared with 24 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$118.2 million, compared with NT$117.1 million in the year-earlier period.

The normalized profit margin rose to 144.4% from 133.2% in the year-earlier period.

Total revenue decreased 7.0% year over year to NT$81.8 million from NT$88.0 million, and total operating expenses totaled NT$31.4 million, compared with NT$31.3 million in the year-earlier period.

Reported net income grew from the prior-year period to NT$159.5 million, or 33 cents per share, from NT$157.6 million, or 32 cents per share.

As of Nov. 10, US$1 was equivalent to NT$31.77.