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Macay Holdings Q2 profit climbs 32.0% YOY

Macay Holdings Inc. said its second-quarter normalized net income came to 50 Philippine centavos per share, an increase of 32.0% from 38 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 536.3 million pesos, an increase of 32.0% from 406.4 million pesos in the year-earlier period.

The normalized profit margin rose to 16.5% from 15.0% in the year-earlier period.

Total revenue climbed 20.8% year over year to 3.27 billion pesos from 2.71 billion pesos, and total operating expenses climbed 16.3% from the prior-year period to 2.43 billion pesos from 2.09 billion pesos.

Reported net income grew 32.9% on an annual basis to 596.4 million pesos, or 56 centavos per share, from 448.6 million pesos, or 42 centavos per share.

As of Aug. 14, US$1 was equivalent to 46.16 Philippine pesos.