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Roxas & Co. fiscal Q1 loss narrows YOY

Roxas & Co. Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to a loss of 10.1 million pesos, compared with a loss of 21.6 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 was 36.2%.

Total revenue rose on an annual basis to 32.2 million pesos from 6.8 million pesos, and total operating expenses rose 18.6% year over year to 49.9 million pesos from 42.1 million pesos.

Reported net income totaled a loss of 16.3 million pesos, or a loss of 1 centavos per share, compared to income of 1.29 billion pesos, or 41 centavos per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 44.23 Philippine pesos.