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Compañí­a Cervecerí­as Unidas Q1 profit climbs 24.5% YOY

Compañía Cervecerías Unidas SA said its first-quarter normalized net income came to 97.98 Chilean pesos per share, compared with the S&P Capital IQ consensus estimate of 115.03 pesos per share.

EPS climbed 24.5% year over year from 78.69 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 36.20 billion pesos, an increase of 24.5% from 29.08 billion pesos in the year-earlier period.

The normalized profit margin increased to 9.5% from 8.7% in the year-earlier period.

Total revenue rose 14.3% on an annual basis to 382.83 billion pesos from 334.81 billion pesos, and total operating expenses grew 12.9% year over year to 314.50 billion pesos from 278.65 billion pesos.

Reported net income increased 6.7% year over year to 43.29 billion pesos, or 117.15 pesos per share, from 40.57 billion pesos, or 109.79 pesos per share.

As of May 5, US$1 was equivalent to 610.39 Chilean pesos.