Adjusted EBITDA was CAD89 million during the quarter, compared to CAD170 million in the prior year. This decline follows a 44% increase in last year's adjusted EBITDAR, in part due to increased expenses associated with the joint ventures. The joint ventures had a CAD60 million impact, which was expected, on adjusted EBITDA during the quarter compared to an CAD18 million impact during the prior year. Commencing with the fourth quarter, the Company expects that its results will be more comparable as it anniversaries the increase in joint venture rent ร้าน กระเป๋า ZARA ig expenses associated with the contribution of its European properties and third-party equity sales. กระเป๋า MANGO สวย ๆ ถูก ๆ These joint venture expenses are essentially flat over the course of the year, while the retail business is seasonal, with sales and earnings weighted toward the back end of the fiscal year. Finance costs were CAD48 million compared to CAD29 million in the prior year. Of the CAD19 million increase, CAD8 million was due to changes in non-cash finance income generated from mark-to-market adjustments associated with the valuation of outstanding common share warrants. And CAD6 million was related to higher interest expense associated with financed leases and pension liabilities acquired as part of the Galleria Kaufhof transaction. Finally, net loss was CAD125 million during the quarter compared to income of CAD7 million during the third quarter of FY15. Prior-year earnings included a net gain of CAD91 million related to the creation of the joint ventures, compared to CAD3 million in the current year.
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