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Roxas & Co. swings to loss in fiscal Q4

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Roxas & Co. swings to loss in fiscal Q4

4910773 said its normalized net income for the fiscal fourth quarter ended Sept. 30, 2015, amounted to a loss of 2 Philippine centavos per share, compared with 4 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 38.4 million pesos, compared with income of 57.2 million pesos in the prior-year period.

The normalized profit margin fell to negative 32.5% from 48.4% in the year-earlier period.

Total revenue came to 117.8 million pesos, compared with 118.1 million pesos in the prior-year period, and total operating expenses grew year over year to 86.3 million pesos from 83.4 million pesos.

Reported net income declined 91.0% on an annual basis to 73.9 million pesos, or 4 centavos per share, from 818.1 million pesos, or 64 centavos per share.

For the year, the company's normalized net income totaled 586,000 pesos, a fall of 99.5% from 113.3 million pesos in the prior year.

Full-year total revenue rose 25.3% from the prior-year period to 250.4 million pesos from 199.8 million pesos, and total operating expenses rose 31.4% on an annual basis to 271.2 million pesos from 206.3 million pesos.

The company said reported net income decreased 93.9% on an annual basis to 135.2 million pesos, or 7 centavos per share, in the full year, from 2.23 billion pesos, or 1.16 pesos per share.

s of Jan. 28, US$1 was equivalent to 47.76 Philippine pesos.Roxas & Co. Inc.

4910773 said its normalized net income for the fiscal fourth quarter ended Sept. 30, 2015, amounted to a loss of 2 Philippine centavos per share, compared with 4 centavos per share in the year-earlier period.