Les Hôtels Baverez SA said its first-quarter normalized net income came to €470,100, compared with a loss of €1.3 million in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to negative 8.7% from negative 29.5% in the year-earlier period.
Total revenue climbed 25.6% on an annual basis to €5.4 million from €4.3 million, and total operating expenses declined 5.8% on an annual basis to €6.0 million from €6.4 million.
Reported net income came to a loss of €659,980, compared with a loss of €2.0 million in the prior-year period.