Roxas Holdings Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, was 5.6 million pesos, a decline of 92.3% from 72.6 million pesos in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin fell to 0.5% from 3.9% in the year-earlier period.
Total revenue decreased 36.4% year over year to 1.18 billion pesos from 1.85 billion pesos, and total operating expenses decreased 32.6% year over year to 1.13 billion pesos from 1.67 billion pesos.
Reported net income decreased 89.8% on an annual basis to 9.3 million pesos, or 1 centavos per share, from 91.5 million pesos, or 10 centavos per share.
As of Feb. 9, US$1 was equivalent to 44.35 Philippine pesos.
