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Viña Concha y Toro Q4 profit climbs 39.4% YOY

Viña Concha y Toro SA said its fourth-quarter normalized net income came to 19.54 Chilean pesos per share, compared with the S&P Capital IQ consensus estimate of 22.38 pesos per share.

EPS rose 39.4% year over year from 14.02 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.60 billion pesos, an increase of 39.4% from 10.47 billion pesos in the year-earlier period.

The normalized profit margin rose to 7.5% from 5.9% in the year-earlier period.

Total revenue grew 8.1% year over year to 192.07 billion pesos from 177.70 billion pesos, and total operating expenses rose 6.8% from the prior-year period to 167.86 billion pesos from 157.24 billion pesos.

Reported net income grew 33.9% from the prior-year period to 18.08 billion pesos, or 24.21 pesos per share, from 13.50 billion pesos, or 18.07 pesos per share.

For the year, the company's normalized net income totaled 55.20 pesos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 65.92 pesos.

EPS rose 19.0% from 46.38 pesos in the prior year.

Normalized net income was 41.24 billion pesos, a gain of 19.0% from 34.65 billion pesos in the prior year.

Full-year total revenue increased 9.1% year over year to 636.19 billion pesos from 583.31 billion pesos, and total operating expenses grew 8.6% year over year to 565.17 billion pesos from 520.30 billion pesos.

The company said reported net income increased 15.7% year over year to 49.80 billion pesos, or 66.66 pesos per share, in the full year, from 43.05 billion pesos, or 57.63 pesos per share.

As of March 24, US$1 was equivalent to 683.51 Chilean pesos.