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Hotel Royal Q2 profit climbs 14.4% YOY

Hotel Royal Ltd said its second-quarter normalized net income came to S$621,250, a gain of 14.4% from S$543,130 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 4.7% from 3.9% in the year-earlier period.

Total revenue decreased year over year to S$13.3 million from S$13.8 million, and total operating expenses declined year over year to S$10.9 million from S$11.2 million.

Reported net income declined 34.1% from the prior-year period to S$469,000, or 1 cents per share, from S$712,000, or 1 cents per share.

As of Aug. 12, US$1 was equivalent to S$1.34.