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Max's Group Q3 profit climbs YOY

Max's Group Inc. said its normalized net income for the third quarter came to 7 Philippine centavos per share, a decrease of 18.2% from 9 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 58.6 million pesos, an increase from 11.2 million pesos in the prior-year period.

The normalized profit margin climbed to 3.2% from 1.3% in the year-earlier period.

Total revenue climbed year over year to 2.42 billion pesos from 870.6 million pesos, and total operating expenses increased year over year to 2.33 billion pesos from 839.7 million pesos.

Reported net income rose from the prior-year period to 72.6 million pesos, or 9 centavos per share, from 6.3 million pesos, or 5 centavos per share.

As of Nov. 12, US$1 was equivalent to 47.00 Philippine pesos.