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Molinos Juan Semino fiscal Q3 profit climbs YOY

Molinos Juan Semino SA said its normalized net income for the fiscal third quarter ended Feb. 29 amounted to 9 Argentine centavos per share, an increase from 3 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 14.3 million pesos, an increase from 4.9 million pesos in the year-earlier period.

The normalized profit margin rose to 11.9% from 5.5% in the year-earlier period.

Total revenue grew 36.1% year over year to 120.5 million pesos from 88.6 million pesos, and total operating expenses grew 47.9% year over year to 116.9 million pesos from 79.0 million pesos.

Reported net income increased on an annual basis to 14.3 million pesos, or 9 centavos per share, from 4.9 million pesos, or 3 centavos per share.

As of April 8, US$1 was equivalent to 14.41 Argentine pesos.