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CMR SAB de CV Q2 loss narrows YOY

CMR SAB de CV said its second-quarter normalized net income amounted to a loss of 2.1 million pesos, compared with a loss of 48.8 million pesos in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 0.3% from negative 8.7% in the year-earlier period.

Total revenue increased 10.6% on an annual basis to 623.3 million pesos from 563.7 million pesos, and total operating expenses fell year over year to 615.6 million pesos from 628.5 million pesos.

Reported net income came to a loss of 1.9 million pesos, or a loss of 1 centavos per share, compared to income of 41.4 million pesos, or 13 centavos per share, in the year-earlier period.

As of July 28, US$1 was equivalent to 16.28 Mexican pesos.