Its revenues fell 18% to RON30.6 million, from RON37.1 million. The company’s overall costs dropped 16% in the first nine months to about RON27.2 million.
Its operating profit stood at RON3.4 million in January-September, down 29% on the year.
THR Marea Neagra operates 23 hotels on the Black Sea coast.
Regional investment fund SIF Transilvania (SIF3.RO) controls 77.71% of the company’s shares and Swedish company East Capital owns 5.1% of the shares through Cyprus-registered firm Salink Limited.
THR Marea Neagr last traded in Bucharest Tuesday, at RON0.0569 a share. Considering this price, the company’s market capitalization is RON32.9 million. (EUR1=RON4.4619)