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Michell y Cí­a Q2 profit climbs 50.8% YOY

Michell y Cía SA said its second-quarter normalized net income was 18 Peruvian céntimos per share, a gain of 50.8% from 12 céntimos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.6 million soles, a gain of 50.8% from 7.0 million soles in the year-earlier period.

The normalized profit margin increased to 10.2% from 7.7% in the year-earlier period.

Total revenue rose 14.2% year over year to 104.2 million soles from 91.2 million soles, and total operating expenses climbed 7.5% from the prior-year period to 85.7 million soles from 79.7 million soles.

Reported net income rose 96.7% on an annual basis to 12.2 million soles, or 21 céntimos per share, from 6.2 million soles, or 11 céntimos per share.

As of July 30, US$1 was equivalent to 3.18 soles.