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Casa de Bucovina Q1 loss widens 43.2% YOY

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Casa de Bucovina Q1 loss widens 43.2% YOY

Casa de Bucovina - Club de Munte SA said its first-quarter normalized net income amounted to 301,540 lei, compared with a loss of 210,560 lei in the year-earlier period.

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

The normalized profit margin increased to negative 33.5% from negative 37.9% in the year-earlier period.

Total revenue grew 61.8% on an annual basis to 898,960 lei from 555,540 lei, and total operating expenses rose 41.6% from the prior-year period to 1.4 million lei from 1.0 million lei.

Reported net income came to a loss of 518,250 lei, compared with a loss of 369,130 lei in the year-earlier period.

As of May 14, US$1 was equivalent to 3.92 Romanian lei.