Liburnia Riviera Hoteli d.d. said its normalized net income for the first quarter was a loss of 18.9 million kuna, compared with a loss of 23.2 million kuna 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 negative 104.1% from negative 108.5% in the year-earlier period.
Total revenue fell 14.8% year over year to 18.2 million kuna from 21.4 million kuna, and total operating expenses fell 17.7% from the prior-year period to 46.9 million kuna from 56.9 million kuna.
Reported net income totaled a loss of 30.3 million kuna, or a loss of 100.13 kuna per share, compared to a loss of 37.6 million kuna in the year-earlier period.
As of April 19, US$1 was equivalent to 6.59 kuna.