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Michell y Cí­a Q1 profit climbs 49.6% YOY

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Michell y Cí­a Q1 profit climbs 49.6% YOY

Michell y Cía SA said its first-quarter normalized net income came to 13 Peruvian céntimos per share, a gain of 49.6% from 9 céntimos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.5 million soles, a gain of 49.6% from 5.0 million soles in the prior-year period.

The normalized profit margin increased to 9.0% from 6.5% in the year-earlier period.

Total revenue climbed 7.9% year over year to 83.0 million soles from 76.9 million soles, and total operating expenses rose year over year to 68.5 million soles from 67.8 million soles.

Reported net income increased 16.1% from the prior-year period to 9.3 million soles, or 16 céntimos per share, from 8.0 million soles, or 14 céntimos per share.

As of April 30, US$1 was equivalent to 3.13 soles.