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MMAT Q3 loss narrows YOY

Marsa Marsa Alam For Tourism Development SAE said its normalized net income for the third quarter came to a loss of 190,630 pounds, compared with a loss of 13.1 million pounds in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Reported net income totaled a loss of 305,010 pounds, or a loss of 1 piastres per share, compared to a loss of 21.0 million pounds, or a loss of 42 piastres per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to 15.50 Egyptian pounds.