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Universal Textil Q3 loss narrows YOY

Compañía Universal Textil SA said its normalized net income for the third quarter amounted to a loss of 1 Peruvian céntimos per share, compared with a loss of 2 céntimos 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 1.8 million soles, compared with a loss of 2.7 million soles in the prior-year period.

The normalized profit margin climbed to negative 8.9% from negative 14.9% in the year-earlier period.

Total revenue climbed 13.6% year over year to 20.4 million soles from 17.9 million soles, and total operating expenses climbed on an annual basis to 22.8 million soles from 21.8 million soles.

Reported net income came to a loss of 2.7 million soles, or a loss of 2 céntimos per share, compared to a loss of 4.1 million soles, or a loss of 3 céntimos per share, in the year-earlier period.

As of Oct. 27, US$1 was equivalent to 3.37 soles.