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Misr Hotels fiscal Q3 loss widens 9.6% YOY

Misr Hotels Co. said its normalized net income for the fiscal third quarter ended March 31 was a loss of 37 Egyptian piastres per share, compared with a loss of 34 piastres per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.9 million pounds, compared with a loss of 4.4 million pounds in the prior-year period.

Reported net income came to a loss of 7.8 million pounds, or a loss of 59 piastres per share, compared to a loss of 7.1 million pounds, or a loss of 54 piastres per share, in the prior-year period.

As of May 4, US$1 was equivalent to 7.63 Egyptian pounds.