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Molinos Juan Semino fiscal Q2 profit climbs 58.8% YOY

Molinos Juan Semino SA said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, amounted to 5 Argentine centavos per share, a gain of 58.8% from 3 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 8.0 million pesos, an increase of 58.8% from 5.0 million pesos in the year-earlier period.

The normalized profit margin rose to 7.8% from 4.9% in the year-earlier period.

Total revenue came to 102.3 million pesos, compared with 102.3 million pesos in the prior-year period, and total operating expenses fell year over year to 89.9 million pesos from 92.8 million pesos.

Reported net income rose 51.3% on an annual basis to 8.1 million pesos, or 5 centavos per share, from 5.3 million pesos, or 3 centavos per share.

As of Jan. 11, US$1 was equivalent to 13.86 Argentine pesos.