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Turisthotel Q1 loss widens YOY

Turisthotel d.d. said its first-quarter normalized net income was a loss of 18.86 kuna per share, compared with a loss of 18.37 kuna per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 6.9 million kuna, compared with a loss of 6.7 million kuna in the year-earlier period.

The normalized profit margin rose to negative 77.0% from negative 87.6% in the year-earlier period.

Total revenue climbed 16.7% on an annual basis to 8.9 million kuna from 7.6 million kuna, and total operating expenses rose 6.3% year over year to 20.4 million kuna from 19.2 million kuna.

Reported net income totaled a loss of 11.9 million kuna, or a loss of 32.72 kuna per share, compared to a loss of 10.7 million kuna, or a loss of 29.39 kuna per share, in the year-earlier period.

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