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Constance Hotels Services Q2 loss widens YOY

Constance Hotels Services Ltd. said its second-quarter normalized net income came to a loss of 37 Mauritian cents per share, compared with a loss of 23 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 41.1 million rupees, compared with a loss of 17.0 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 5.0% from negative 2.0% in the year-earlier period.

Total revenue came to 823.7 million rupees, compared with 830.9 million rupees in the year-earlier period, and total operating expenses increased 6.4% on an annual basis to 794.7 million rupees from 746.7 million rupees.

Reported net income came to a loss of 89.3 million rupees, or a loss of 81 cents per share, compared to a loss of 37.7 million rupees, or a loss of 51 cents per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to 35.59 Mauritian rupees.