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Valparaí­so Sporting Club SA swings to loss in Q2

Valparaíso Sporting Club S.A. said its second-quarter normalized net income was 33.6 million pesos, compared with income of 32.8 million pesos in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 1.6% from 2.2% in the year-earlier period.

Total revenue increased 9.2% year over year to 1.60 billion pesos from 1.47 billion pesos, and total operating expenses climbed 19.0% year over year to 1.69 billion pesos from 1.42 billion pesos.

Reported net income came to a loss of 68.9 million pesos, compared with income of 27.6 million pesos in the year-earlier period.

As of Sept. 14, US$1 was equivalent to 675.62 Chilean pesos.