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Forus Q1 profit falls YOY

Forus said its first-quarter normalized net income amounted to 23.71 Chilean pesos per share, a decline of 21.4% from 30.18 pesos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.13 billion pesos, a decline of 21.4% from 7.80 billion pesos in the year-earlier period.

The normalized profit margin dropped to 10.2% from 14.0% in the year-earlier period.

Total revenue climbed 7.9% on an annual basis to 60.01 billion pesos from 55.59 billion pesos, and total operating expenses rose 14.1% from the prior-year period to 50.94 billion pesos from 44.66 billion pesos.

Reported net income decreased 23.7% year over year to 7.57 billion pesos, or 29.27 pesos per share, from 9.92 billion pesos, or 38.38 pesos per share.

As of May 12, US$1 was equivalent to 605.39 Chilean pesos.