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Alsea profit beats consensus by 74.4% in Q1

Alsea said its normalized net income for the first quarter was 30 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 17 centavos per share.

EPS climbed year over year from 11 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 249.1 million pesos, an increase from 78.4 million pesos in the year-earlier period.

The normalized profit margin rose to 3.4% from 2.0% in the year-earlier period.

Total revenue climbed 84.0% on an annual basis to 7.34 billion pesos from 3.99 billion pesos, and total operating expenses increased 81.6% year over year to 6.93 billion pesos from 3.81 billion pesos.

Reported net income grew on an annual basis to 298.8 million pesos, or 36 centavos per share, from 86.7 million pesos, or 13 centavos per share.

As of April 30, US$1 was equivalent to 15.35 Mexican pesos.