Danubius Hotels: increased revenues, reduced losses

The Danubius Hotels Group reached 1.145 billion HUF pre-tax loss in the first quarter, 486 million less than a year ago. The Hotels Group’s revenues increased by 11 percent to 8.289 billion HUF – announced the hotel company on Monday in its IFRS consolidated report on the website of the Budapest Stock Exchange.

In the first quarter, which is always the worst time of Danubius, operating loss was 1.868 billion HUF, which is 18 percent less than in the first quarter of 2011.

The value of investments was 0.4 billion HUF in the first quarter of 2012, compared to last year's 1.6 billion HUF of the first quarter, when significant medical investments were made in subsidiaries in the Czech Republic, Slovakia and Romania. (MTI)