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Servicios Corporativos Q3 loss narrows YOY

Servicios Corporativos Javer SAB de CV said its third-quarter normalized net income came to a loss of 1 Mexican centavos per share, compared with a loss of 1.28 pesos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.2 million pesos, compared with a loss of 235.2 million pesos in the year-earlier period.

The normalized profit margin increased to negative 0.2% from negative 15.0% in the year-earlier period.

Total revenue climbed on an annual basis to 1.64 billion pesos from 1.57 billion pesos, and total operating expenses climbed from the prior-year period to 1.44 billion pesos from 1.39 billion pesos.

Reported net income came to a loss of 20.1 million pesos, or a loss of 7 centavos per share, compared to a loss of 395.5 million pesos, or a loss of 2.15 pesos per share, in the prior-year period.

As of Oct. 20, US$1 was equivalent to 18.63 Mexican pesos.