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Browns Beach Hotels fiscal Q3 loss widens YOY

Browns Beach Hotels PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 11 Sri Lankan cents per share, compared with a loss of 4 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 14.8 million rupees, compared with a loss of 5.2 million rupees in the prior-year period.

Reported net income came to a loss of 27.1 million rupees, or a loss of 21 cents per share, compared to a loss of 8.3 million rupees, or a loss of 6 cents per share, in the year-earlier period.

As of Feb. 12, US$1 was equivalent to 144.09 Sri Lankan rupees.