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Wal-Mart de México Q2 profit climbs 7.6% YOY

Wal-Mart de México SAB de CV said its second-quarter normalized net income was 28 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 32 centavos per share.

EPS increased 8.8% year over year from 26 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.89 billion pesos, an increase of 7.6% from 4.55 billion pesos in the prior-year period.

The normalized profit margin declined to 4.1% from 4.4% in the year-earlier period.

Total revenue grew 9.9% year over year to 114.40 billion pesos from 104.12 billion pesos, and total operating expenses grew 10.1% year over year to 106.58 billion pesos from 96.79 billion pesos.

Reported net income increased 5.3% on an annual basis to 5.40 billion pesos, or 31 centavos per share, from 5.13 billion pesos, or 29 centavos per share.

As of July 22, US$1 was equivalent to 16.09 Mexican pesos.