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Unií³n El Golf Q1 loss narrows YOY

Unión El Golf SA said its normalized net income for the first quarter came to 269.4 million pesos, compared with a loss of 273.7 million pesos in the prior-year period.

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

The normalized profit margin increased to negative 52.1% from negative 57.9% in the year-earlier period.

Total revenue increased 9.4% year over year to 517.2 million pesos from 472.8 million pesos, and total operating expenses grew 10.7% on an annual basis to 600.3 million pesos from 542.1 million pesos.

Reported net income came to a loss of 356.5 million pesos, compared with a loss of 313.3 million pesos in the year-earlier period.

As of April 21, US$1 was equivalent to 615.70 Chilean pesos.