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Accel Q2 profit climbs YOY

Accel SAB de CV said its second-quarter normalized net income came to 15 Mexican centavos per share, a gain from 5 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.4 million pesos, a gain from 9.6 million pesos in the year-earlier period.

The normalized profit margin rose to 2.0% from 0.9% in the year-earlier period.

Total revenue increased 31.4% year over year to 1.40 billion pesos from 1.06 billion pesos, and total operating expenses climbed 28.2% on an annual basis to 1.31 billion pesos from 1.02 billion pesos.

Reported net income rose on an annual basis to 35.2 million pesos, or 19 centavos per share, from 15.2 million pesos, or 8 centavos per share.

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