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Molinos Rio de la Plata Q4 profit climbs 81.5% YOY

Molinos Rio de la Plata SA said its fourth-quarter normalized net income came to 1.69 Argentine pesos per share, an increase of 82.1% from 93 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 423.2 million pesos, an increase of 81.5% from 233.2 million pesos in the year-earlier period.

The normalized profit margin rose to 6.4% from 4.1% in the year-earlier period.

Total revenue grew 6.6% on an annual basis to 6.01 billion pesos from 5.64 billion pesos, and total operating expenses grew 9.0% on an annual basis to 5.93 billion pesos from 5.44 billion pesos.

Reported net income grew year over year to 636.5 million pesos, or 2.54 pesos per share, from 50.5 million pesos, or 20 centavos per share.

For the year, the company's normalized net income totaled 3.56 pesos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 2.60 pesos.

EPS rose 11.0% from 3.20 pesos in the prior year.

Normalized net income was 891.3 million pesos, a gain of 11.0% from 802.7 million pesos in the prior year.

Full-year total revenue grew on an annual basis to 25.64 billion pesos from 24.55 billion pesos, and total operating expenses grew 5.4% on an annual basis to 24.55 billion pesos from 23.30 billion pesos.

The company said reported net income grew 63.2% on an annual basis to 1.10 billion pesos, or 4.37 pesos per share, in the full year, from 671.1 million pesos, or 2.68 pesos per share.

As of March 9, US$1 was equivalent to 15.32 Argentine pesos.