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Hilasal Mexicana Q1 loss narrows YOY

Hilasal Mexicana SAB de CV said its normalized net income for the first quarter was a loss of 3 Mexican centavos per share, compared with a loss of 7 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 a loss of 6.5 million pesos, compared with a loss of 9.6 million pesos in the prior-year period.

The normalized profit margin increased to negative 6.1% from negative 11.2% in the year-earlier period.

Total revenue grew year over year to 86.6 million pesos from 85.6 million pesos, and total operating expenses climbed from the prior-year period to 91.7 million pesos from 88.1 million pesos.

Reported net income totaled a loss of 7.3 million pesos, or a loss of 3 centavos per share, compared to a loss of 10.7 million pesos, or a loss of 8 centavos per share, in the prior-year period.

As of April 30, US$1 was equivalent to 15.35 Mexican pesos.