After recording losses of 8.40 million RON at the end of the first half of the year, Turism, Hoteluri, Restaurante (THR) Marea Neagra returned to profitability following the conclusion of the summer season. Thus, in the first nine months of this year, the company recorded a net profit of 2.56 million RON, 53.03% lower than the 5.45 million RON achieved in the same period last year.
This represents a decrease in profitability amid rising costs. Total operating revenues were 35.18 million RON, slightly above the 35 million RON result obtained in the same period last year. During the same period, total operating expenses increased by 13.89%, to 32.62 million RON, from 28.64 million RON.
The company, 63.20% owned by SIF Transilvania, had total assets of 266.94 million RON as of September 30, an increase of 4.43% compared to the 255.61 million RON recorded on January 1. Total liabilities increased by 53.03%, to 34.34 million RON, from 22.44 million RON.
Source: Profit
Frequently Asked Questions
What was THR Marea Neagra’s net profit in the first nine months of 2016?
The company recorded a net profit of 2.56 million RON, a 53.03% decrease compared to the 5.45 million RON earned in the same period of 2015.
Who owns THR Marea Neagra?
The company is 63.20% owned by SIF Transilvania.
What caused the decline in profit?
The decline was driven by a 13.89% increase in operating expenses, which rose to 32.62 million RON, while revenues remained relatively flat.