Philippine Seven Corp. said its normalized net income for the first quarter amounted to 13 Philippine centavos per share, an increase of 13.8% from 12 centavos per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 101.7 million pesos, an increase of 13.8% from 89.3 million pesos in the prior-year period.
The normalized profit margin dropped to 1.9% from 2.2% in the year-earlier period.
Total revenue climbed 28.5% year over year to 5.29 billion pesos from 4.12 billion pesos, and total operating expenses climbed 29.0% year over year to 5.12 billion pesos from 3.97 billion pesos.
Reported net income increased 12.8% year over year to 112.9 million pesos, or 15 centavos per share, from 100.0 million pesos, or 13 centavos per share.
As of May 13, US$1 was equivalent to 44.53 Philippine pesos.
