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Molinos Juan Semino fiscal Q2 profit climbs YOY

Molinos Juan Semino SA said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, was 5.0 million pesos, a gain from 101,390 pesos in the prior-year period.

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

The normalized profit margin increased to 4.9% from 0.1% in the year-earlier period.

Total revenue increased 31.0% year over year to 102.3 million pesos from 78.1 million pesos, and total operating expenses climbed 20.0% on an annual basis to 92.8 million pesos from 77.3 million pesos.

Reported net income totaled 5.3 million pesos, or 3 centavos per share, compared to a loss of 254,430 pesos, or a loss of 0 centavos per share, in the prior-year period.

As of Jan. 9, US$1 was equivalent to 8.59 Argentine pesos.