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Hipermarc Q3 profit falls YOY

Hipermarc SA said its normalized net income for the third quarter amounted to 14 Chilean centavos per share, a decline of 48.0% from 27 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 178.3 million pesos, a decline of 48.0% from 342.6 million pesos in the year-earlier period.

The normalized profit margin fell to 4.4% from 14.1% in the year-earlier period.

Total revenue grew 29.8% year over year to 3.16 billion pesos from 2.43 billion pesos, and total operating expenses increased from the prior-year period to 3.59 billion pesos from 1.71 billion pesos.

Reported net income declined 94.2% on an annual basis to 14.6 million pesos, or 1 centavos per share, from 253.3 million pesos, or 20 centavos per share.

As of Nov. 26, US$1 was equivalent to 711.60 Chilean pesos.