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Club Hipico de Santiago SA Q1 profit climbs 87.7% YOY

Club Hipico de Santiago SA said its first-quarter normalized net income amounted to 281.8 million pesos, a gain of 87.7% from 150.2 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 climbed to 10.5% from 6.2% in the year-earlier period.

Total revenue climbed 11.1% year over year to 2.68 billion pesos from 2.41 billion pesos, and total operating expenses grew on an annual basis to 2.27 billion pesos from 2.21 billion pesos.

Reported net income came to 361.8 million pesos, compared with 207.0 million pesos in the prior-year period.

As of June 1, US$1 was equivalent to 623.20 Chilean pesos.