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Ledesma fiscal Q2 loss widens 93.2% YOY

Ledesma SA AI its normalized net income for the fiscal second quarter ended Nov. 30, 2014, came to a loss of 3 Argentine centavos per share, compared with a loss of 2 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 a loss of 13.4 million pesos, compared with a loss of 6.9 million pesos in the year-earlier period.

The normalized profit margin fell to negative 0.8% from negative 0.6% in the year-earlier period.

Total revenue increased 30.3% year over year to 1.51 billion pesos from 1.16 billion pesos, and total operating expenses increased 29.1% year over year to 1.40 billion pesos from 1.08 billion pesos.

Reported net income increased year over year to 12.0 million pesos, or 3 centavos per share, from 4.4 million pesos, or 1 centavos per share.

As of Jan. 9, US$1 was equivalent to 8.59 Argentine pesos.