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Lealea Hotels & Resorts Q1 profit climbs 99.7% YOY

Lealea Hotels & Resorts Co. Ltd. said its normalized net income for the first quarter came to 37 Taiwan cents per share, an increase of 66.7% from 22 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$3.7 million, an increase of 99.7% from NT$1.9 million in the year-earlier period.

The normalized profit margin fell to 4.8% from 8.6% in the year-earlier period.

Total revenue grew on an annual basis to NT$78.2 million from NT$21.7 million, and total operating expenses rose year over year to NT$73.2 million from NT$19.6 million.

Reported net income grew 79.7% on an annual basis to NT$5.5 million, or 54 cents per share, from NT$3.0 million, or 36 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.