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Hilasal Mexicana Q3 loss narrows YOY

Hilasal Mexicana S.A.B. de C.V. said its normalized net income for the third quarter amounted to a loss of 4 Mexican centavos per share, compared with a loss of 7 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 9.0 million pesos, compared with a loss of 9.0 million pesos in the year-earlier period.

The normalized profit margin increased to negative 10.0% from negative 11.5% in the year-earlier period.

Total revenue grew 14.3% on an annual basis to 89.4 million pesos from 78.3 million pesos, and total operating expenses grew 10.4% year over year to 94.9 million pesos from 85.9 million pesos.

Reported net income came to a loss of 11.4 million pesos, or a loss of 5 centavos per share, compared to a loss of 12.3 million pesos, or a loss of 9 centavos per share, in the year-earlier period.

As of March 10, US$1 was equivalent to 19.63 Mexican pesos.