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Grupo Sports World Q4 profit falls YOY

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Grupo Sports World Q4 profit falls YOY

Grupo Sports World SAB de CV said its normalized net income for the fourth quarter came to 14 Mexican centavos per share, a decrease of 15.4% from 16 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.3 million pesos, a decline of 35.1% from 12.9 million pesos in the prior-year period.

The normalized profit margin fell to 2.6% from 4.5% in the year-earlier period.

Total revenue climbed 13.1% year over year to 323.0 million pesos from 285.6 million pesos, and total operating expenses increased 18.2% on an annual basis to 301.4 million pesos from 255.0 million pesos.

Reported net income declined 35.5% year over year to 9.3 million pesos, or 15 centavos per share, from 14.5 million pesos, or 18 centavos per share.

For the year, the company's normalized net income totaled 18 centavos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 39 centavos.

EPS declined 65.0% from 50 centavos in the prior year.

Normalized net income was 14.1 million pesos, a decline of 65.1% from 40.5 million pesos in the prior year.

Full-year total revenue grew 12.3% year over year to 1.19 billion pesos from 1.06 billion pesos, and total operating expenses grew 17.0% on an annual basis to 1.14 billion pesos from 971.5 million pesos.

The company said reported net income decreased 66.5% on an annual basis to 16.2 million pesos, or 20 centavos per share, in the full year, from 48.5 million pesos, or 60 centavos per share.

As of Feb. 15, US$1 was equivalent to 18.84 Mexican pesos.