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Citrus Leisure fiscal Q1 loss widens 62.3% YOY

Citrus Leisure PLC said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 38 Sri Lankan cents per share, compared with a loss of 14 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 36.6 million rupees, compared with a loss of 22.6 million rupees in the prior-year period.

The normalized profit margin increased to negative 23.5% from negative 44.8% in the year-earlier period.

Total revenue increased year over year to 155.9 million rupees from 50.4 million rupees, and total operating expenses grew from the prior-year period to 214.0 million rupees from 65.6 million rupees.

Reported net income totaled a loss of 87.9 million rupees, or a loss of 91 cents per share, compared to a loss of 37.5 million rupees, or a loss of 24 cents per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 134.55 Sri Lankan rupees.