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Turisthotel Q2 profit falls YOY

Turisthotel d.d. said its second-quarter normalized net income was 2.53 kuna per share, a decline of 75.9% from 10.51 kuna per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 919,710 kuna, a decrease of 75.9% from 3.8 million kuna in the prior-year period.

The normalized profit margin dropped to 2.2% from 8.8% in the year-earlier period.

Total revenue fell year over year to 42.1 million kuna from 43.3 million kuna, and total operating expenses grew 9.4% on an annual basis to 41.6 million kuna from 38.1 million kuna.

Reported net income decreased 61.6% year over year to 1.5 million kuna, or 4.02 kuna per share, from 3.8 million kuna, or 10.48 kuna per share.

As of July 29, US$1 was equivalent to 6.69 kuna.