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Hoteli Makarska Q1 loss widens YOY

Hoteli Makarska d.d. said its first-quarter normalized net income came to 5.9 million kuna, compared with a loss of 5.7 million kuna in the prior-year period.

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

Total revenue increased year over year to 1.4 million kuna from 135,500 kuna, and total operating expenses grew 10.5% from the prior-year period to 10.6 million kuna from 9.6 million kuna.

Reported net income totaled a loss of 9.4 million kuna, compared with a loss of 9.4 million kuna in the prior-year period.

As of April 30, US$1 was equivalent to 6.75 kuna.