Maui Land narrows its first-quarter loss
Maui Land & Pineapple Co. narrowed its first-quarter loss to $1.07 million from $1.1 million in the year-earlier quarter even as its revenue declined.
The company said Wednesday that revenue fell 12.8% to $2 million from $2.3 million.
Maui Land said it did not have any real estate asset sales during the first quarters of 2020 or 2019.
Maui Land’s real estate revenue fell 56.1% to $69,000, leasing revenue declined 9.4% to $1.7 million, and resort amenities and other revenue dropped 11.9% to $230,000
The company owns about 23,000 acres on Maui and manages properties, utilities, and a nature preserve at the Kapalua Resort.
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