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Grupo Lala Q2 profit climbs 22.1% YOY

Grupo Lala SAB de CV said its second-quarter normalized net income amounted to 36 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 36 centavos per share.

EPS climbed 20.8% year over year from 30 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 900.0 million pesos, an increase of 22.1% from 737.2 million pesos in the prior-year period.

The normalized profit margin increased to 7.6% from 6.7% in the year-earlier period.

Total revenue increased 8.0% year over year to 11.85 billion pesos from 10.97 billion pesos, and total operating expenses increased 5.9% year over year to 10.47 billion pesos from 9.88 billion pesos.

Reported net income increased 18.9% year over year to 989.7 million pesos, or 40 centavos per share, from 832.4 million pesos, or 34 centavos per share.

As of July 28, US$1 was equivalent to 16.28 Mexican pesos.