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Sharm Dreams Q1 loss widens YOY

4981090 said its first-quarter normalized net income was a loss of 34 Egyptian piastres per share, compared with a loss of 13 piastres per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 18.2 million pounds, compared with a loss of 5.8 million pounds in the prior-year period.

Total revenue declined 60.2% on an annual basis to 2.0 million pounds from 5.1 million pounds, and total operating expenses declined from the prior-year period to 6.5 million pounds from 6.7 million pounds.

Reported net income totaled a loss of 39.0 million pounds, or a loss of 74 piastres per share, compared to a loss of 10.0 million pounds, or a loss of 22 piastres per share, in the prior-year period.

s of May 24, US$1 was equivalent to 8.88 Egyptian pounds.Sharm Dreams Co. for Touristic Investment SAE

4981090 said its first-quarter normalized net income was a loss of 34 Egyptian piastres per share, compared with a loss of 13 piastres per share in the prior-year period.