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A. Tsokkos Hotels swings to profit in Q2

A. Tsokkos Hotels Public Ltd said its normalized net income for the second quarter came to €1.4 million, compared with a loss of €334,800 in the year-earlier period.

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

The normalized profit margin rose to 8.4% from negative 2.4% in the year-earlier period.

Total revenue climbed 22.2% year over year to €17.1 million from €14.0 million, and total operating expenses grew 16.1% on an annual basis to €14.1 million from €12.1 million.

Reported net income totaled €2.2 million, or 1 cents per share, compared to a loss of €601,030, or a loss of 0 cents per share, in the year-earlier period.