Hotel San Antonio plc registers €0.2 million loss before tax for first six months of 2010

The announcement was made in a company announcement filed on the Malta Stock Exchange (MSE) this morning by company secretary Pierre Mangani.

The loss after tax for the period ending 30 June 2010 registered by Hotel San Antonio plc totalled € 135,388, as against €147,055 for the period ending 30 June last year, a decrease of € 11,667.

However, the hotel has registered an operating profit of €187,127 for the first six months of 2010 as against an operating profit of €183,805 during the same period last year, a slight increase of €3,822 for the period.

For the first six months of 2010, finance costs went down by €11,667 to €135,388 as against €147,045 in the previous interim result.

For the period under review, the company’s revenue went slightly up to €2.3 million as against €2.2 million during the first six months of 2009, an increase of €0.1 million for the period.

Likewise, the hotel’s staff costs also went up slightly to €907,840 for the period under review as against €897,092 for the first six months of 2009, an increase of €10,748.

However, the company’s other operating expenses, which include the hike in utility and gas prices, went up by almost €49,208 when compared to the same period last year, with €1,018,184 for the first six months of 2010 as against €968,975 for the first six months of last year.

On the outlook for the rest of the financial year, the hotels’ directors’ declared that “given no unforeseen circumstances, the company is also expecting to achieved improved results over 2009 by the end of the year”.