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Philweb Q3 profit climbs YOY

PhilWeb Corp. said its third-quarter normalized net income was 12 Philippine centavos per share, a decline of 11.4% from 14 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 162.8 million pesos, a gain from 159.2 million pesos in the year-earlier period.

The normalized profit margin fell to 38.1% from 38.5% in the year-earlier period.

Total revenue rose year over year to 427.2 million pesos from 413.4 million pesos, and total operating expenses totaled 151.8 million pesos, compared with 151.3 million pesos in the year-earlier period.

Reported net income decreased on an annual basis to 206.1 million pesos, or 15 centavos per share, from 214.0 million pesos, or 18 centavos per share.

As of Nov. 11, US$1 was equivalent to 47.09 Philippine pesos.