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Maui Land narrows third-quarter loss

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Maui Land & Pineapple Co. reduced expenses related to real estate and almost avoided a financial loss in the third quarter.

The Kapalua-based company reported today a $9,000 loss for the three months ended Sept. 30, compared with a $1.6 million loss in the same period last year.

Maui Land, which owns 23,000 acres on the Valley Isle but no longer grows pineapple, generated $1.8 million in revenue from leasing land and $1 million from utility operations.

Revenue overall totaled $3.4 million in the third quarter, up from $2.8 million a year earlier.

Higher revenue helped Maui Land improve its bottom line, as did a nearly $1 million reduction of expenses related to real estate, the company reported.

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