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Turism Felix Q1 loss narrows YOY

S.C. Turism Felix SA said its first-quarter normalized net income came to 2.2 million lei, compared with a loss of 2.3 million 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 rose to negative 31.6% from negative 43.7% in the year-earlier period.

Total revenue grew 34.8% year over year to 7.1 million lei from 5.2 million lei, and total operating expenses grew 20.0% year over year to 10.6 million lei from 8.8 million lei.

Reported net income totaled a loss of 3.6 million lei, compared with a loss of 3.7 million lei in the year-earlier period.

As of May 13, US$1 was equivalent to 3.98 Romanian lei.