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Grupo Comercial Chedraui Q1 profit climbs 14.3% YOY

Grupo Comercial Chedraui SAB de CV said its first-quarter normalized net income came to 44 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 48 centavos per share.

EPS climbed 13.7% year over year from 38 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 425.9 million pesos, a gain of 14.3% from 372.7 million pesos in the year-earlier period.

The normalized profit margin climbed to 2.3% from 2.2% in the year-earlier period.

Total revenue grew 9.5% year over year to 18.30 billion pesos from 16.70 billion pesos, and total operating expenses climbed 9.4% from the prior-year period to 17.37 billion pesos from 15.87 billion pesos.

Reported net income grew 9.8% from the prior-year period to 459.5 million pesos, or 47 centavos per share, from 418.4 million pesos, or 43 centavos per share.

As of April 30, US$1 was equivalent to 15.35 Mexican pesos.