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Molinos Juan Semino fiscal Q3 profit falls YOY

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Molinos Juan Semino fiscal Q3 profit falls YOY

Molinos Juan Semino SA said its normalized net income for the fiscal third quarter ended Feb. 28 amounted to 3 Argentine centavos per share, a decline of 37.1% from 5 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 4.9 million pesos, a decrease of 37.1% from 7.7 million pesos in the prior-year period.

The normalized profit margin fell to 5.5% from 9.8% in the year-earlier period.

Total revenue climbed 12.4% on an annual basis to 88.6 million pesos from 78.8 million pesos, and total operating expenses rose 16.3% year over year to 79.0 million pesos from 68.0 million pesos.

Reported net income decreased 43.2% year over year to 4.9 million pesos, or 3 centavos per share, from 8.7 million pesos, or 5 centavos per share.

As of April 10, US$1 was equivalent to 8.85 Argentine pesos.