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Servicios Corporativos Q1 loss widens YOY

Servicios Corporativos Javer SAB de CV said its normalized net income for the first quarter came to a loss of 53 Mexican centavos per share, compared with a loss of 21 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 a loss of 140.5 million pesos, compared with a loss of 39.4 million pesos in the year-earlier period.

The normalized profit margin declined to negative 8.1% from negative 2.5% in the year-earlier period.

Total revenue grew 11.2% year over year to 1.74 billion pesos from 1.56 billion pesos, and total operating expenses increased 12.3% from the prior-year period to 1.54 billion pesos from 1.37 billion pesos.

Reported net income came to a loss of 164.1 million pesos, or a loss of 62 centavos per share, compared to a loss of 99.3 million pesos, or a loss of 54 centavos per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 17.19 Mexican pesos.