Unión El Golf S.A. said its third-quarter normalized net income amounted to 190.7 million pesos, compared with a loss of 243.5 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 rose to negative 24.2% from negative 31.7% in the year-earlier period.

Total revenue increased on an annual basis to 788.3 million pesos from 767.2 million pesos, and total operating expenses increased 12.7% on an annual basis to 767.8 million pesos from 681.1 million pesos.

Reported net income came to a loss of 195.6 million pesos, compared with a loss of 199.6 million pesos in the year-earlier period.

As of Nov. 9, US$1 was equivalent to 650.85 Chilean pesos.