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Constantinou Bros Hotels swings to profit in H1

Constantinou Bros Hotels Public Company Ltd said its first-half normalized net income amounted to €555,330, compared with a loss of €518,800 in the year-earlier period.

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

Total revenue totaled €15.6 million, compared with €15.5 million in the year-earlier period, and total operating expenses declined 7.0% from the prior-year period to €13.4 million from €14.4 million.

Reported net income came to €335,010, or 0 cents per share, compared to a loss of €1.0 million, or a loss of 1 cents per share, in the prior-year period.