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Arca Continental Q2 profit climbs 14.5% YOY

Arca said its normalized net income for the second quarter amounted to 1.24 Mexican pesos per share, compared with the S&P Capital IQ consensus estimate of 1.26 pesos per share.

EPS rose 14.6% year over year from 1.08 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.99 billion pesos, an increase of 14.5% from 1.74 billion pesos in the year-earlier period.

The normalized profit margin climbed to 11.1% from 10.9% in the year-earlier period.

Total revenue increased 13.1% on an annual basis to 18.05 billion pesos from 15.96 billion pesos, and total operating expenses rose 13.1% on an annual basis to 14.54 billion pesos from 12.85 billion pesos.

Reported net income rose 13.8% on an annual basis to 2.20 billion pesos, or 1.37 pesos per share, from 1.94 billion pesos, or 1.20 pesos per share.

As of July 15, US$1 was equivalent to 15.74 Mexican pesos.