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New Mauritius Hotels fiscal Q4 loss widens 5.1% YOY

New Mauritius Hotels Ltd said its normalized net income for the fiscal fourth quarter ended Sept. 30, 2015, amounted to a loss of 41 Mauritian cents per share, compared with a loss of 39 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 199.9 million rupees, compared with a loss of 190.2 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 11.5% from negative 8.7% in the year-earlier period.

Total revenue fell 10.2% year over year to 1.97 billion rupees from 2.19 billion rupees, and total operating expenses fell 11.1% year over year to 2.15 billion rupees from 2.42 billion rupees.

Reported net income came to a loss of 347.5 million rupees, or a loss of 72 cents per share, compared to a loss of 57.8 million rupees, or a loss of 12 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 15 cents per share, a decline of 41.9% from 26 cents per share in the prior year.

Normalized net income was 71.9 million rupees, a fall of 41.9% from 123.8 million rupees in the prior year.

Full-year total revenue rose 6.4% year over year to 9.36 billion rupees from 8.79 billion rupees, and total operating expenses increased 5.2% on an annual basis to 8.47 billion rupees from 8.05 billion rupees.

The company said reported net income fell 63.1% on an annual basis to 169.0 million rupees, or 35 cents per share, in the full year, from 458.5 million rupees, or 95 cents per share.

As of Feb. 19, US$1 was equivalent to 35.65 Mauritian rupees.