June 1 (SeeNews) - Bulgarian hotel operator Albena [BUL:6AB] said that its consolidated net loss widened to 9.9 million levs ($5.6 million/5.1 million euro) in the first quarter of 2020 from 9.7 million levs in the same period of 2019.
Albena's revenue fell to 2.7 levs in the first three months of the year from 3.6 million levs the year before, the company said in an interim financial statement on Friday.
The company's operating expenses decreased to 12.6 million levs in the review period from 13.2 million levs in the comparable period of 2019, due to lower expenses for salaries and materials.
Albena expects to suffer significant damages from the ongoing coronavirus pandemic this year, but their size is difficult to be quantified at the moment, the company said.
(1 euro = 1.95583 levs)