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Les Hí´tels Baverez Q3 profit falls YOY

Les Hôtels Baverez SA said its normalized net income for the third quarter amounted to €506,870, a decrease of 47.1% from €957,760 in the year-earlier period.

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

The normalized profit margin fell to 6.9% from 11.4% in the year-earlier period.

Total revenue decreased 11.8% on an annual basis to €7.4 million from €8.4 million, and total operating expenses fell 5.6% on an annual basis to €6.5 million from €6.9 million.

Reported net income came to €964,370, compared with €596,450 in the year-earlier period.