Grupo Famsa SAB de CV said its first-quarter normalized net income amounted to 4 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 14 centavos per share.
EPS declined 63.8% year over year from 10 centavos.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.3 million pesos, a decrease of 59.7% from 43.0 million pesos in the year-earlier period.
The normalized profit margin dropped to 0.5% from 1.3% in the year-earlier period.
Total revenue grew 10.0% year over year to 3.53 billion pesos from 3.21 billion pesos, and total operating expenses rose 10.0% on an annual basis to 3.25 billion pesos from 2.96 billion pesos.
Reported net income declined 49.7% year over year to 92.7 million pesos, or 19 centavos per share, from 184.3 million pesos, or 42 centavos per share.
As of April 24, US$1 was equivalent to 15.38 Mexican pesos.
