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Consorcio ARA Q1 profit climbs 15.5% YOY

Consorcio ARA SAB de CV said its normalized net income for the first quarter came to 11 Mexican centavos per share, a gain of 20.0% from 9 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 135.6 million pesos, a gain of 15.5% from 117.4 million pesos in the prior-year period.

The normalized profit margin rose to 8.1% from 8.0% in the year-earlier period.

Total revenue increased 13.3% year over year to 1.67 billion pesos from 1.47 billion pesos, and total operating expenses increased 13.0% year over year to 1.48 billion pesos from 1.31 billion pesos.

Reported net income rose 15.6% year over year to 151.9 million pesos, or 12 centavos per share, from 131.5 million pesos, or 10 centavos per share.

As of April 28, US$1 was equivalent to 15.21 Mexican pesos.