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Sare Holding Q2 loss narrows YOY

Sare Holding SAB de CV said its normalized net income for the second quarter came to a loss of 13.0 million pesos, compared with a loss of 28.0 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 rose to negative 19.7% from negative 155.0% in the year-earlier period.

Total revenue rose year over year to 66.0 million pesos from 18.1 million pesos, and total operating expenses rose year over year to 77.0 million pesos from 34.0 million pesos.

Reported net income totaled a loss of 15.0 million pesos, or a loss of 0 centavos per share, compared to a loss of 31.4 million pesos, or a loss of 5 centavos per share, in the year-earlier period.

As of July 27, US$1 was equivalent to 16.27 Mexican pesos.