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Hostel group Safestay posted a first-half loss after rising sales were offset by higher administrative and financing costs.
Pre-tax profit for the six months through June amounted to £0.90m, compared to losses of £0.79m on-year.
Revenue climbed 24% to £8.1m. On a like-for-like basis it rose 4%.
Safestay's average bed rate rose 6% to £19.50, while its adjusted Ebitda improved to £1.4m, up from £1.3m.
The company said positive summer trading positioned it well.
Revenue for the full year was expected to exceed £17.0m, while adjusted Ebitda would be in the region of £3.8m.