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Browns Beach Hotels swings to loss in fiscal Q3

Browns Beach Hotels PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 4 Sri Lankan cents per share, compared with 13 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 5.2 million rupees, compared with income of 17.1 million rupees in the prior-year period.

Reported net income came to a loss of 8.3 million rupees, or a loss of 6 cents per share, compared to income of 18.6 million rupees, or 14 cents per share, in the year-earlier period.

As of Feb. 11, US$1 was equivalent to 132.80 Sri Lankan rupees.