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A. Tsokkos Hotels Q3 profit climbs 46.0% YOY

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A. Tsokkos Hotels Q3 profit climbs 46.0% YOY

A. Tsokkos Hotels Public Ltd said its third-quarter normalized net income came to 4 euro cents per share, a gain of 46.0% from 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €10.3 million, an increase of 46.0% from €7.0 million in the prior-year period.

The normalized profit margin rose to 29.8% from 23.0% in the year-earlier period.

Total revenue increased 12.6% on an annual basis to €34.4 million from €30.6 million, and total operating expenses fell year over year to €17.0 million from €17.6 million.

Reported net income increased 40.0% on an annual basis to €15.7 million, or 6 cents per share, from €11.2 million, or 5 cents per share.