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Lordos Hotels swings to profit in H1

Lordos Hotels (Holdings) Public Ltd said its normalized net income for the first half was €81,940, compared with a loss of €413,760 in the year-earlier period.

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

Total revenue increased 21.4% on an annual basis to €4.5 million from €3.7 million, and total operating expenses came to €4.3 million, compared with €4.4 million in the prior-year period.

Reported net income came to €83,360, or 0 cents per share, compared to a loss of €717,240, or a loss of 2 cents per share, in the year-earlier period.