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M Dias Branco Q2 profit climbs 18.2% YOY

M. Dias Branco S.A. Indústria e Comércio de Alimentos said its second-quarter normalized net income came to 36 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 42 centavos per share.

EPS rose 18.2% year over year from 31 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 123.4 million reais, a gain of 18.2% from 104.4 million reais in the year-earlier period.

The normalized profit margin climbed to 11.0% from 9.3% in the year-earlier period.

Total revenue totaled 1.12 billion reais, compared with 1.12 billion reais in the prior-year period, and total operating expenses totaled 960.3 million reais, compared with 951.8 million reais in the year-earlier period.

Reported net income increased 30.0% on an annual basis to 190.8 million reais, or 56 centavos per share, from 146.8 million reais, or 43 centavos per share.

As of July 27, US$1 was equivalent to 3.36 reais.