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A. Tsokkos Hotels Q1 loss narrows YOY


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A. Tsokkos Hotels Q1 loss narrows YOY

A. Tsokkos Hotels Public Ltd said its normalized net income for the first quarter was a loss of €942,870, compared with a loss of €5.2 million in the prior-year period.

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

The normalized profit margin was 50.1%.

Total revenue climbed 10.6% year over year to €1.9 million from €1.7 million, and total operating expenses increased 18.2% from the prior-year period to €2.3 million from €1.9 million.

Reported net income totaled a loss of €1.6 million, or a loss of 1 cents per share, compared to a loss of €8.4 million, or a loss of 3 cents per share, in the year-earlier period.