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Grupe SAB de CV Q2 profit climbs 26.3% YOY


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Grupe SAB de CV Q2 profit climbs 26.3% YOY

Grupe SAB de CV said its second-quarter normalized net income was 52 Mexican centavos per share, a gain of 25.7% from 42 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 35.5 million pesos, an increase of 26.3% from 28.1 million pesos in the year-earlier period.

The normalized profit margin climbed to 8.5% from 7.6% in the year-earlier period.

Total revenue rose 12.5% year over year to 416.5 million pesos from 370.2 million pesos, and total operating expenses grew 7.2% year over year to 337.6 million pesos from 314.9 million pesos.

Reported net income grew 52.4% from the prior-year period to 65.8 million pesos, or 97 centavos per share, from 43.2 million pesos, or 64 centavos per share.

As of July 27, US$1 was equivalent to 16.27 Mexican pesos.