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CMR SAB de CV Q1 loss widens YOY

CMR S.A.B. de C.V. said its first-quarter normalized net income was a loss of 5 Mexican centavos per share, compared with a loss of 3 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 13.7 million pesos, compared with a loss of 6.3 million pesos in the prior-year period.

The normalized profit margin declined to negative 2.1% from negative 1.1% in the year-earlier period.

Total revenue rose 7.9% year over year to 635.8 million pesos from 589.5 million pesos, and total operating expenses rose 9.4% on an annual basis to 651.8 million pesos from 595.7 million pesos.

Reported net income came to a loss of 22.3 million pesos, or a loss of 9 centavos per share, compared to a loss of 10.4 million pesos, or a loss of 4 centavos per share, in the prior-year period.

As of April 28, US$1 was equivalent to 17.19 Mexican pesos.