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Organizacií³n Cultiba profit beats consensusin Q2

Organización Cultiba SAB de CV said its normalized net income for the second quarter came to 17 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 6 centavos per share.

EPS increased 94.8% year over year from 9 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 124.9 million pesos, a gain of 89.7% from 65.8 million pesos in the prior-year period.

The normalized profit margin increased to 1.3% from 0.7% in the year-earlier period.

Total revenue grew year over year to 9.92 billion pesos from 9.57 billion pesos, and total operating expenses totaled 9.37 billion pesos, compared with 9.29 billion pesos in the prior-year period.

Reported net income increased 81.6% on an annual basis to 137.8 million pesos, or 19 centavos per share, from 75.9 million pesos, or 10 centavos per share.

As of July 24, US$1 was equivalent to 16.25 Mexican pesos.