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Hoteli Makarska Q2 profit falls YOY

Hoteli Makarska d.d. said its second-quarter normalized net income was 1.4 million kuna, a fall of 19.3% from 1.8 million 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 5.4% from 9.4% in the year-earlier period.

Total revenue rose 15.3% on an annual basis to 21.6 million kuna from 18.7 million kuna, and total operating expenses climbed 17.4% year over year to 18.9 million kuna from 16.1 million kuna.

Reported net income totaled 2.4 million kuna, compared with 2.7 million kuna in the prior-year period.

As of July 22, US$1 was equivalent to 6.82 kuna.