Grupo Posadas SAB de CV said its normalized net income for the first quarter was 4 Mexican centavos per share, compared with a loss of 5 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 20.1 million pesos, compared with a loss of 25.2 million pesos in the year-earlier period.
The normalized profit margin increased to 1.2% from negative 1.9% in the year-earlier period.
Total revenue rose 29.7% on an annual basis to 1.74 billion pesos from 1.34 billion pesos, and total operating expenses grew 15.3% from the prior-year period to 1.49 billion pesos from 1.29 billion pesos.
Reported net income came to a loss of 45.7 million pesos, or a loss of 9 centavos per share, compared to a loss of 28.0 million pesos, or a loss of 6 centavos per share, in the year-earlier period.
As of April 24, US$1 was equivalent to 15.38 Mexican pesos.
