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Wal-Mart de México Q1 profit climbs 7.5% YOY

Wal-Mart de México SAB de CV said its first-quarter normalized net income amounted to 27 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 31 centavos per share.

EPS rose 9.6% year over year from 24 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.61 billion pesos, an increase of 7.5% from 4.29 billion pesos in the prior-year period.

The normalized profit margin fell to 4.1% from 4.2% in the year-earlier period.

Total revenue rose 9.3% on an annual basis to 111.72 billion pesos from 102.23 billion pesos, and total operating expenses increased 9.5% on an annual basis to 104.38 billion pesos from 95.31 billion pesos.

Reported net income increased 7.5% from the prior-year period to 5.14 billion pesos, or 30 centavos per share, from 4.78 billion pesos, or 27 centavos per share.

As of April 24, US$1 was equivalent to 15.38 Mexican pesos.