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Longvie SA Q2 profit climbs YOY

Longvie SA said its second-quarter normalized net income came to 25 Argentine centavos per share, an increase from 7 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 37.8 million pesos, a gain from 11.1 million pesos in the year-earlier period.

The normalized profit margin increased to 12.5% from 6.6% in the year-earlier period.

Total revenue climbed 79.3% year over year to 301.4 million pesos from 168.1 million pesos, and total operating expenses rose 63.3% on an annual basis to 246.0 million pesos from 150.6 million pesos.

Reported net income rose on an annual basis to 38.9 million pesos, or 25 centavos per share, from 10.9 million pesos, or 7 centavos per share.

As of Aug. 11, US$1 was equivalent to 9.23 Argentine pesos.