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Arca Continental Q1 profit climbs 11.7% YOY

Arca said its first-quarter normalized net income amounted to 74 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 80 centavos per share.

EPS climbed 11.3% year over year from 66 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.18 billion pesos, an increase of 11.7% from 1.06 billion pesos in the prior-year period.

The normalized profit margin dropped to 7.8% from 7.9% in the year-earlier period.

Total revenue grew 14.2% year over year to 15.27 billion pesos from 13.37 billion pesos, and total operating expenses grew 14.9% year over year to 13.03 billion pesos from 11.34 billion pesos.

Reported net income rose 12.0% year over year to 1.30 billion pesos, or 81 centavos per share, from 1.16 billion pesos, or 72 centavos per share.

As of April 24, US$1 was equivalent to 15.38 Mexican pesos.