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Unií³n El Golf Q2 loss narrows YOY

Unión El Golf S.A. said its normalized net income for the second quarter came to 171.5 million pesos, compared with a loss of 229.8 million pesos in the prior-year period.

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

The normalized profit margin climbed to negative 20.7% from negative 32.2% in the year-earlier period.

Total revenue rose 16.3% year over year to 829.4 million pesos from 713.3 million pesos, and total operating expenses rose 7.4% on an annual basis to 732.8 million pesos from 682.1 million pesos.

Reported net income came to a loss of 138.5 million pesos, compared with a loss of 185.5 million pesos in the year-earlier period.

As of Sept. 9, US$1 was equivalent to 672.23 Chilean pesos.