In the first quarter of 2012, the company had losses of RON3.5 million and a turnover of RON3.5 million.
Revenues incaresed 20% in the first quarter, to RON31.7 million (EUR7.2 million) euro), and expenses rose 6%, to RON31.7 million (EUR7.2 million), the company said in a statement to the Bucharest Stock Exchange Friday.
In the first quarter of 2012, the company had revenues of RON26.4 million and expenses of nearly RON30 million.
Its operating profit decreased nearly 25% this year, from RON5.78 million to RON4.37 million, but was cancelled out by financial loses of RON4.28 million. The loss was more than two times lower than in the first quarter of 2012, when it stood at nearly RON9.3 million.
Bucuresti Turism estimates a net profit of nearly RON11 million for this year, from losses of RON22,000 and nearly RON18 million the previous two years. The company also plans to invest EUR1.2 million in renovations.
Bea Hotels Eastern Europe (Amsterdam), the owner of Bucuresti Turism, is part of Israeli group Elbit Medical Imaging (EMI), which is also present in romania via real estate developer Plaza Centers. In turn, EMI is owned by Europe Israel Ltd.
Bucuresti Turism’s shares traded up 28% in Bucharest Tuesday, at RON5.65 per share.