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Quickfood Sociedad Anonima Q4 loss widens YOY

Quickfood Sociedad Anonima said its fourth-quarter normalized net income was a loss of 1.94 Argentine pesos per share, compared with a loss of 69 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 a loss of 70.8 million pesos, compared with a loss of 25.1 million pesos in the year-earlier period.

The normalized profit margin fell to negative 6.8% from negative 2.9% in the year-earlier period.

Total revenue climbed 31.5% year over year to 1.12 billion pesos from 849.5 million pesos, and total operating expenses climbed 34.9% from the prior-year period to 1.19 billion pesos from 885.4 million pesos.

Reported net income totaled a loss of 102.2 million pesos, or a loss of 2.80 pesos per share, compared to a loss of 25.6 million pesos, or a loss of 70 centavos per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 2.17 pesos per share, compared with a loss of 40 centavos per share in the prior year.

Normalized net income was a loss of 79.2 million pesos, compared with a loss of 14.5 million pesos in the prior year.

Full-year total revenue rose 24.2% on an annual basis to 3.75 billion pesos from 3.02 billion pesos, and total operating expenses grew 26.2% year over year to 3.83 billion pesos from 3.03 billion pesos.

The company said reported net income totaled a loss of 113.7 million pesos, or a loss of 3.12 pesos per share, in the full year, compared with a loss of 77.6 million pesos, or a loss of 2.13 pesos per share, the prior year.

As of March 9, US$1 was equivalent to 15.32 Argentine pesos.