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CMR SAB de CV Q1 loss widens 79.7% YOY

CMR SAB de CV said its normalized net income for the first quarter was a loss of 2 Mexican centavos per share, compared with a loss of 2 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 6.1 million pesos, compared with a loss of 3.4 million pesos in the prior-year period.

The normalized profit margin declined to negative 1.1% from negative 0.6% in the year-earlier period.

Total revenue rose 6.7% year over year to 587.2 million pesos from 550.1 million pesos, and total operating expenses increased 6.2% from the prior-year period to 593.1 million pesos from 558.4 million pesos.

Reported net income came to a loss of 10.4 million pesos, or a loss of 4 centavos per share, compared to a loss of 10.4 million pesos, or a loss of 6 centavos per share, in the year-earlier period.

As of May 1, US$1 was equivalent to 15.54 Mexican pesos.