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Saga Falabella profit holds mostly steady YOY in Q2

Saga Falabella S.A. said its normalized net income for the second quarter came to 15 Peruvian céntimos per share, compared with 15 céntimos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 38.6 million soles, compared with 38.6 million soles in the year-earlier period.

The normalized profit margin dropped to 5.2% from 5.5% in the year-earlier period.

Total revenue grew 6.1% year over year to 743.9 million soles from 701.4 million soles, and total operating expenses increased 5.9% year over year to 687.6 million soles from 649.2 million soles.

Reported net income increased year over year to 43.6 million soles, or 17 céntimos per share, from 43.1 million soles, or 17 céntimos per share.

As of Aug. 1, US$1 was equivalent to 3.35 soles.