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Molinos Rio de la Plata Q3 profit climbs 16.1% YOY

Molinos Rio de la Plata SA said its third-quarter normalized net income amounted to 71 Argentine centavos per share, a gain of 15.3% from 62 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 178.6 million pesos, a gain of 16.1% from 153.9 million pesos in the year-earlier period.

The normalized profit margin increased to 2.6% from 2.5% in the year-earlier period.

Total revenue increased 16.3% year over year to 7.24 billion pesos from 6.22 billion pesos, and total operating expenses increased 16.0% year over year to 6.87 billion pesos from 5.92 billion pesos.

Reported net income increased 89.9% from the prior-year period to 251.5 million pesos, or 1 peso per share, from 132.4 million pesos, or 53 centavos per share.

As of Nov. 11, US$1 was equivalent to 9.60 Argentine pesos.