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Longvie SA Q3 profit climbs YOY

Longvie S.A. said its normalized net income for the third quarter was 18 Argentine centavos per share, an increase from 5 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 28.1 million pesos, an increase from 7.2 million pesos in the prior-year period.

The normalized profit margin increased to 9.2% from 5.0% in the year-earlier period.

Total revenue rose year over year to 304.4 million pesos from 143.7 million pesos, and total operating expenses grew 99.1% on an annual basis to 266.0 million pesos from 133.6 million pesos.

Reported net income grew year over year to 28.6 million pesos, or 19 centavos per share, from 7.3 million pesos, or 5 centavos per share.

As of Nov. 10, US$1 was equivalent to 9.59 Argentine pesos.