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Longvie SA Q4 profit climbs YOY

Longvie S.A. said its fourth-quarter normalized net income amounted to 16 Argentine centavos per share, a gain from 3 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 24.6 million pesos, a gain from 4.3 million pesos in the year-earlier period.

The normalized profit margin climbed to 9.6% from 3.1% in the year-earlier period.

Total revenue rose 83.9% year over year to 254.9 million pesos from 138.6 million pesos, and total operating expenses rose 72.1% on an annual basis to 228.2 million pesos from 132.6 million pesos.

Reported net income increased from the prior-year period to 25.5 million pesos, or 17 centavos per share, from 4.4 million pesos, or 3 centavos per share.

For the year, the company's normalized net income totaled 67 centavos per share, a gain from 20 centavos per share in the prior year.

Normalized net income was 102.3 million pesos, a gain from 31.1 million pesos in the prior year.

Full-year total revenue increased 76.0% on an annual basis to 1.04 billion pesos from 588.7 million pesos, and total operating expenses grew 65.4% year over year to 897.3 million pesos from 542.7 million pesos.

The company said reported net income grew on an annual basis to 105.3 million pesos, or 69 centavos per share, in the full year, from 32.0 million pesos, or 21 centavos per share.

As of March 10, US$1 was equivalent to 15.34 Argentine pesos.