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Servicios Corporativos swings to loss in Q2

Servicios Corporativos Javer SAB de CV said its normalized net income for the second quarter was 32.8 million pesos, compared with income of 46.8 million pesos in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 2.3% from 3.3% in the year-earlier period.

Total revenue grew year over year to 1.46 billion pesos from 1.43 billion pesos, and total operating expenses increased year over year to 1.30 billion pesos from 1.26 billion pesos.

Reported net income came to a loss of 33.5 million pesos, compared with income of 71.1 million pesos in the prior-year period.

As of July 23, US$1 was equivalent to 16.10 Mexican pesos.