Becle SAB de CV said its fourth-quarter normalized net income came to 23 Mexican centavos per share, a decline of 86.1% from 1.64 pesos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 653.6 million pesos, a decline of 79.4% from 3.18 billion pesos in the year-earlier period.

The normalized profit margin dropped to 8.9% from 65.6% in the year-earlier period.

Total revenue increased 52.4% year over year to 7.38 billion pesos from 4.84 billion pesos, and total operating expenses climbed 86.2% from the prior-year period to 5.91 billion pesos from 3.17 billion pesos.

Reported net income decreased 48.5% on an annual basis to 629.1 million pesos, or 22 centavos per share, from 1.22 billion pesos, or 63 centavos per share.

For the year, the company's normalized net income totaled 98 centavos per share, a decrease of 60.2% from 2.46 pesos per share in the prior year.

Normalized net income was 2.93 billion pesos, a decrease of 38.5% from 4.76 billion pesos in the prior year.

Full-year total revenue rose 32.1% from the prior-year period to 24.40 billion pesos from 18.47 billion pesos, and total operating expenses rose 35.5% year over year to 18.77 billion pesos from 13.85 billion pesos.

The company said reported net income fell 40.7% on an annual basis to 3.15 billion pesos, or 1.05 pesos per share, in the full year, from 5.31 billion pesos, or 2.74 pesos per share.

As of April 28, US$1 was equivalent to 18.97 Mexican pesos.