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Allied Hotel Properties Q2 loss widens YOY

Allied Hotel Properties Inc. said its second-quarter normalized net income amounted to a loss of C$169,380, compared with a loss of C$18,750 in the prior-year period.

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

The normalized profit margin declined to negative 6.3% from negative 0.7% in the year-earlier period.

Total revenue came to C$2.7 million, compared with C$2.7 million in the year-earlier period, and total operating expenses climbed 16.4% year over year to C$2.7 million from C$2.4 million.

Reported net income totaled a loss of C$271,000, or a loss of 0 cents per share, compared to a loss of C$30,000, or a loss of 0 cents per share, in the year-earlier period.