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Cencosud profit misses consensus by 44.8% in Q1

Cencosud SA said its normalized net income for the first quarter came to 8.63 Chilean pesos per share, compared with the S&P Capital IQ consensus estimate of 15.63 pesos per share.

EPS climbed year over year from 8.46 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 24.40 billion pesos, a gain of 8.1% from 22.58 billion pesos in the prior-year period.

The normalized profit margin increased to 1.1% from 0.9% in the year-earlier period.

Total revenue increased 6.5% on an annual basis to 2.653 trillion pesos from 2.490 trillion pesos, and total operating expenses climbed 6.8% from the prior-year period to 2.549 trillion pesos from 2.386 trillion pesos.

Reported net income decreased 34.9% on an annual basis to 19.80 billion pesos, or 6.98 pesos per share, from 30.43 billion pesos, or 11.40 pesos per share.

As of May 29, US$1 was equivalent to 619.00 Chilean pesos.