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SMU SA Q3 loss narrows YOY

SMU SA said its third-quarter normalized net income came to a loss of 3.79 Chilean pesos per share, compared with a loss of 7.45 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 13.83 billion pesos, compared with a loss of 20.84 billion pesos in the year-earlier period.

The normalized profit margin rose to negative 2.6% from negative 4.3% in the year-earlier period.

Total revenue climbed 6.8% on an annual basis to 523.31 billion pesos from 489.99 billion pesos, and total operating expenses climbed 5.1% on an annual basis to 513.87 billion pesos from 488.90 billion pesos.

Reported net income came to a loss of 16.16 billion pesos, or a loss of 4.43 pesos per share, compared to a loss of 18.35 billion pesos, or a loss of 6.56 pesos per share, in the prior-year period.

As of Nov. 10, US$1 was equivalent to 700.15 Chilean pesos.