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Grupo Palacio de Hierro Q1 profit climbs 53.4% YOY

4910813 said its normalized net income for the first quarter came to 13 Mexican centavos per share, a gain of 28.5% from 10 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 51.9 million pesos, an increase of 53.4% from 33.8 million pesos in the prior-year period.

The normalized profit margin rose to 1.0% from 0.8% in the year-earlier period.

Total revenue rose 9.3% year over year to 4.53 billion pesos from 4.15 billion pesos, and total operating expenses climbed 8.9% year over year to 4.95 billion pesos from 4.54 billion pesos.

eported net income rose 51.9% year over year to 55.1 Grupo Palacio de Hierro SAB de CV.