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RLH Properties Q2 loss widens 68.9% YOY

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RLH Properties Q2 loss widens 68.9% YOY

RLH Properties S.A.B. de C.V. said its second-quarter normalized net income was a loss of 54 Mexican centavos per share, compared with a loss of 56 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 a loss of 38.5 million pesos, compared with a loss of 22.8 million pesos in the year-earlier period.

The normalized profit margin fell to negative 31.5% from negative 25.9% in the year-earlier period.

Total revenue rose 38.9% year over year to 122.2 million pesos from 88.0 million pesos, and total operating expenses climbed 19.1% year over year to 97.8 million pesos from 82.1 million pesos.

Reported net income came to a loss of 47.6 million pesos, or a loss of 67 centavos per share, compared to a loss of 32.4 million pesos, or a loss of 79 centavos per share, in the year-earlier period.

As of July 28, US$1 was equivalent to 18.90 Mexican pesos.