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Michell y Cí­a Q3 profit climbs 64.2% YOY

Michell y Cía. S.A. said its third-quarter normalized net income amounted to 16 Peruvian céntimos per share, an increase of 64.2% from 10 céntimos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.1 million soles, a gain of 64.2% from 5.6 million soles in the prior-year period.

The normalized profit margin climbed to 10.1% from 7.6% in the year-earlier period.

Total revenue grew 23.6% on an annual basis to 90.7 million soles from 73.4 million soles, and total operating expenses rose 14.9% from the prior-year period to 75.5 million soles from 65.7 million soles.

Reported net income increased 51.7% from the prior-year period to 10.8 million soles, or 19 céntimos per share, from 7.1 million soles, or 12 céntimos per share.

As of Oct. 31, US$1 was equivalent to 3.36 soles.