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Les Hí´tels Baverez Q2 profit climbs YOY

Les Hôtels Baverez SA said its normalized net income for the second quarter amounted to 7 euro cents per share, a gain from 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €164,110, a gain from €80,140 in the prior-year period.

The normalized profit margin climbed to 1.9% from 1.1% in the year-earlier period.

Total revenue decreased year over year to €7.2 million from €7.4 million, and total operating expenses declined from the prior-year period to €6.9 million from €7.1 million.

Reported net income rose 11.4% from the prior-year period to €226,340, or 10 cents per share, from €203,230, or 9 cents per share.