Louis revenue jumps 39% in Q107

Louis Pcl, the cruise and hotel management group with extensive operations in Cyprus, Greece and across the Mediteranean released its first quarter 2007 results posting a strong 39% YoY increase in revenue to EUR 28.9 mln (CYP 16.7m) from EUR 20.79 mln a year ago in the same period.

The increase in revenue originated from a 61% YoY increase in revenue from cruise operations and a 6.5% YoY increase in revenue from the hotel operations.

Total costs increased by 23% YoY to EUR 32.5 mln from EUR 26.4 mln in 1Q06.

EBITDAR improved by 36% to a loss of EUR 3.6 mln (CYP 2.1m) in 1Q07 from a loss of EUR 5.6 mln and was primarily associated with the improvement in the cruise operations where the Group operated three ships in 1Q07 compared to one ship in the corresponding 2006 period.

(full report in Research Centre, under Company Earnings or in the print edition of the Financial Mirror, May 30).