Hoteli Haludovo Malinska d.d. said its normalized net income for the third quarter amounted to 706,190 kuna, compared with a loss of 989,850 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 53.6% from negative 89.1% in the year-earlier period.

Total revenue increased 18.7% on an annual basis to 1.3 million kuna from 1.1 million kuna, and total operating expenses decreased year over year to 2.3 million kuna from 2.3 million kuna.

Reported net income totaled a loss of 1.1 million kuna, compared with a loss of 1.6 million kuna in the year-earlier period.

As of Jan. 28, US$1 was equivalent to 7.01 kuna.