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SMU SA Q4 loss narrows YOY

SMU SA said its normalized net income for the fourth quarter came to a loss of 4.36 Chilean pesos per share, compared with a loss of 6.56 pesos 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 15.89 billion pesos, compared with a loss of 23.91 billion pesos in the year-earlier period.

The normalized profit margin rose to negative 2.3% from negative 3.1% in the year-earlier period.

Total revenue rose on an annual basis to 793.53 billion pesos from 763.55 billion pesos, and total operating expenses climbed year over year to 771.27 billion pesos from 759.43 billion pesos.

Reported net income totaled 853.7 million pesos, or 23 centavos per share, compared to a loss of 29.15 billion pesos, or a loss of 7.99 pesos per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 13.32 pesos per share, compared with a loss of 22.99 pesos per share in the prior year.

Normalized net income was a loss of 48.60 billion pesos, compared with a loss of 83.85 billion pesos in the prior year.

Full-year total revenue rose 5.9% year over year to 2.331 trillion pesos from 2.201 trillion pesos, and total operating expenses grew year over year to 2.276 trillion pesos from 2.197 trillion pesos.

The company said reported net income came to a loss of 37.24 billion pesos, or a loss of 10.21 pesos per share, in the full year, compared with a loss of 100.26 billion pesos, or a loss of 27.49 pesos per share, the prior year.

As of March 28, US$1 was equivalent to 680.86 Chilean pesos.