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Liburnia Riviera Hoteli Q2 profit climbs 28.5% YOY

Liburnia Riviera Hoteli d.d. said its normalized net income for the second quarter came to 11.4 million kuna, a rise of 28.5% from 8.8 million kuna 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 9.9% from 9.4% in the year-earlier period.

Total revenue climbed 22.7% year over year to 115.2 million kuna from 93.9 million kuna, and total operating expenses grew 20.4% from the prior-year period to 92.1 million kuna from 76.4 million kuna.

Reported net income rose 28.5% on an annual basis to 18.7 million kuna, or 61.77 kuna per share, from 14.6 million kuna.

As of July 21, US$1 was equivalent to 6.93 kuna.