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Record Q2 profit climbs 88.0% YOY

Manufactura de Metales y Aluminio Record S.A. said its normalized net income for the second quarter was 323,130 soles, a gain of 88.0% from 171,880 soles in the year-earlier period.

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

The normalized profit margin climbed to 1.7% from 1.0% in the year-earlier period.

Total revenue increased 7.0% year over year to 18.2 million soles from 17.0 million soles, and total operating expenses rose 5.1% on an annual basis to 17.5 million soles from 16.7 million soles.

Reported net income increased 88.0% year over year to 517,000 soles, or 1 céntimos per share, from 275,000 soles, or 1 céntimos per share.

As of July 27, US$1 was equivalent to 3.36 soles.