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Corporativo Fragua Q2 profit falls YOY

Corporativo Fragua SAB de CV said its second-quarter normalized net income amounted to 2.04 Mexican pesos per share, a decline of 6.9% from 2.19 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 200.2 million pesos, a decrease of 6.9% from 215.1 million pesos in the year-earlier period.

The normalized profit margin fell to 2.3% from 2.7% in the year-earlier period.

Total revenue climbed 12.6% year over year to 8.88 billion pesos from 7.88 billion pesos, and total operating expenses increased 13.7% year over year to 8.52 billion pesos from 7.49 billion pesos.

Reported net income declined 9.1% year over year to 209.6 million pesos, or 2.13 pesos per share, from 230.5 million pesos, or 2.34 pesos per share.

As of July 28, US$1 was equivalent to 16.28 Mexican pesos.