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Lux Island Resorts posts fiscal Q4 loss

Lux Island Resorts Ltd. said its normalized net income for the fiscal fourth quarter ended June 30 came to a loss of 66.4 million rupees.

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

The normalized profit margin was 6.6%.

Total revenue totaled 1.00 billion rupees, and total operating expenses totaled 1.07 billion rupees.

Reported net income came to a loss of 89.0 million rupees, or a loss of 66 cents per share.

For the year, the company's normalized net income totaled 2.10 rupees per share, a fall from 2.18 rupees per share in the prior year.

Normalized net income was 288.5 million rupees, a gain of 5.4% from 273.6 million rupees in the prior year.

Full-year total revenue grew 12.1% from the prior-year period to 5.08 billion rupees from 4.53 billion rupees, and total operating expenses rose 12.3% on an annual basis to 4.42 billion rupees from 3.94 billion rupees.

The company said reported net income increased 11.6% on an annual basis to 420.6 million rupees, or 3.06 rupees per share, in the full year, from 377.0 million rupees, or 3.01 rupees per share.

As of Nov. 22, US$1 was equivalent to 36.03 Mauritian rupees.