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Lampsa Hellenic Hotels Q1 loss widens 76.9% YOY

Lampsa Hellenic Hotels S.A. said its first-quarter normalized net income came to a loss of 10 euro cents per share, compared with a loss of 6 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €2.2 million, compared with a loss of €1.3 million in the prior-year period.

The normalized profit margin fell to negative 29.4% from negative 17.1% in the year-earlier period.

Total revenue increased on an annual basis to €7.6 million from €7.4 million, and total operating expenses climbed 9.8% year over year to €9.4 million from €8.5 million.

Reported net income came to a loss of €2.6 million, or a loss of 12 cents per share, compared to a loss of €2.0 million, or a loss of 9 cents per share, in the prior-year period.