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Unií³n El Golf Q4 loss narrows YOY

Unión El Golf S.A. said its fourth-quarter normalized net income came to 175.2 million pesos, compared with a loss of 260.4 million pesos in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 19.2% from negative 37.1% in the year-earlier period.

Total revenue climbed 21.7% year over year to 855.2 million pesos from 702.6 million pesos, and total operating expenses climbed year over year to 753.6 million pesos from 728.4 million pesos.

Reported net income came to a loss of 173.4 million pesos, compared with a loss of 214.2 million pesos in the prior-year period.

For the year, the company's normalized net income totaled 907.0 million pesos, compared with a loss of -1003.9 million pesos in the prior year.

Full-year total revenue increased 15.2% on an annual basis to 2.85 billion pesos from 2.48 billion pesos, and total operating expenses rose 5.4% on an annual basis to 2.72 billion pesos from 2.58 billion pesos.

The company said reported net income totaled a loss of 915.0 million pesos in the full year, compared with a loss of 1.03 billion pesos in the prior year.

As of March 2, US$1 was equivalent to 687.79 Chilean pesos.