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Philippine Seven Q3 profit climbs 10.1% YOY

Philippine Seven Corp. said its third-quarter normalized net income amounted to 19 Philippine centavos per share, a gain of 12.9% from 17 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 142.1 million pesos, an increase of 10.1% from 129.0 million pesos in the prior-year period.

The normalized profit margin declined to 2.3% from 2.7% in the year-earlier period.

Total revenue climbed 31.2% year over year to 6.28 billion pesos from 4.79 billion pesos, and total operating expenses rose 32.0% from the prior-year period to 6.04 billion pesos from 4.58 billion pesos.

Reported net income grew 10.2% on an annual basis to 159.1 million pesos, or 21 centavos per share, from 144.4 million pesos, or 19 centavos per share.

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