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Compañí­a Goodyear del Perú swings to profit in Q2

Compañía Goodyear del Perú SA said its normalized net income for the second quarter came to 9 Peruvian céntimos per share, compared with a loss of 8 céntimos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.0 million soles, compared with a loss of 6.9 million soles in the prior-year period.

The normalized profit margin climbed to 7.8% from negative 9.7% in the year-earlier period.

Total revenue increased 43.4% on an annual basis to 102.2 million soles from 71.3 million soles, and total operating expenses increased 12.1% year over year to 92.0 million soles from 82.1 million soles.

Reported net income came to 8.4 million soles, or 9 céntimos per share, compared to a loss of 9.4 million soles, or a loss of 10 céntimos per share, in the year-earlier period.

As of July 30, US$1 was equivalent to 3.18 soles.