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Bogo-Medellin Milling fiscal Q1 loss narrows YOY

Bogo-Medellin Milling Co. Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, was a loss of 18 Philippine centavos per share, compared with a loss of 1.52 pesos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.1 million pesos, compared with a loss of 9.1 million pesos in the prior-year period.

The normalized profit margin rose to negative 1.0% from negative 67.2% in the year-earlier period.

Total revenue rose year over year to 103.5 million pesos from 13.6 million pesos, and total operating expenses grew from the prior-year period to 109.1 million pesos from 28.4 million pesos.

Reported net income came to a loss of 1.7 million pesos, or a loss of 28 centavos per share, compared to a loss of 14.6 million pesos, or a loss of 2.43 pesos per share, in the year-earlier period.

As of Feb. 16, US$1 was equivalent to 44.26 Philippine pesos.