Croatian hotel operator LRH pares loss in H1

EBITDA rose 25% year-on-year to 2.1 million euro in the first half of 2023, LRH said in a non-consolidated unaudited financial report last week.

EBIT was a negative 2.9 million euro, compared to a negative 4.7 million euro in the six months through June last year.

The company’s total revenue rose 28% on the year to 20.3 million euro in the review period. Sales revenue also rose 28% to 19.1 million euro. Operating costs surged 31% year-on-year to 18.2 million euro.

LRH's shares were the biggest daily gainer intraday on Wednesday on the Zagreb bourse as they traded 5.92% higher at 322 euro.

($ = 0.911 euro)