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Liburnia Riviera Hoteli Q2 profit falls YOY

Liburnia Riviera Hoteli d.d. said its second-quarter normalized net income amounted to 8.5 million kuna, a fall of 24.9% from 11.4 million kuna in the year-earlier period.

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

The normalized profit margin climbed to 10.1% from 9.9% in the year-earlier period.

Total revenue fell 26.4% year over year to 84.9 million kuna from 115.2 million kuna, and total operating expenses fell 24.4% from the prior-year period to 69.6 million kuna from 92.1 million kuna.

Reported net income came to 13.7 million kuna, compared with 18.7 million kuna, or 61.77 kuna per share, in the prior-year period.

As of July 19, US$1 was equivalent to 6.80 kuna.