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Longvie SA Q1 profit climbs 40.3% YOY

Longvie SA said its normalized net income for the first quarter was 8 Argentine centavos per share, an increase of 40.2% from 6 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.9 million pesos, an increase of 40.3% from 8.5 million pesos in the year-earlier period.

The normalized profit margin rose to 6.8% from 6.1% in the year-earlier period.

Total revenue climbed 26.9% year over year to 175.5 million pesos from 138.4 million pesos, and total operating expenses increased 24.8% on an annual basis to 157.2 million pesos from 125.9 million pesos.

Reported net income grew 32.5% from the prior-year period to 12.3 million pesos, or 8 centavos per share, from 9.3 million pesos, or 6 centavos per share.

As of May 12, US$1 was equivalent to 8.93 Argentine pesos.