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RLH Properties Q3 loss narrows YOY

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RLH Properties Q3 loss narrows YOY

RLH Properties S.A.B. de C.V. said its normalized net income for the third quarter amounted to a loss of 38 Mexican centavos per share, compared with a loss of 53 centavos 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 39.4 million pesos, compared with a loss of 55.5 million pesos in the year-earlier period.

The normalized profit margin increased to negative 36.8% from negative 70.2% in the year-earlier period.

Total revenue rose 14.8% on an annual basis to 90.8 million pesos from 79.1 million pesos, and total operating expenses grew 51.1% year over year to 102.2 million pesos from 67.6 million pesos.

Reported net income came to a loss of 47.4 million pesos, or a loss of 46 centavos per share, compared to a loss of 65.5 million pesos, or a loss of 63 centavos per share, in the prior-year period.

As of Oct. 28, US$1 was equivalent to 18.73 Mexican pesos.