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Hilasal Mexicana Q2 loss narrows YOY

Hilasal Mexicana SAB de CV said its second-quarter normalized net income was a loss of 4 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 5.5 million pesos, compared with a loss of 9.4 million pesos in the prior-year period.

The normalized profit margin climbed to negative 6.4% from negative 11.5% in the year-earlier period.

Total revenue grew on an annual basis to 85.3 million pesos from 81.6 million pesos, and total operating expenses fell 5.9% year over year to 87.2 million pesos from 92.7 million pesos.

Reported net income came to a loss of 7.3 million pesos, or a loss of 6 centavos per share, compared to a loss of 12.5 million pesos, or a loss of 9 centavos per share, in the year-earlier period.

As of July 27, US$1 was equivalent to 16.27 Mexican pesos.