Hoteli Haludovo Malinska d.d. said its normalized net income for the third quarter came to 722,490 kuna, compared with a loss of 706,190 kuna in the prior-year period.

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

The normalized profit margin dropped to negative 60.0% from negative 53.6% in the year-earlier period.

Total revenue decreased 8.6% on an annual basis to 1.2 million kuna from 1.3 million kuna, and total operating expenses fell 8.5% on an annual basis to 2.1 million kuna from 2.3 million kuna.

Reported net income came to a loss of 1.2 million kuna, compared with a loss of 1.1 million kuna in the prior-year period.

As of Jan. 26, US$1 was equivalent to 7.02 kuna.