Universal Robina Corp. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to 1.12 Philippine pesos per share, a gain of 14.6% from 98 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 2.44 billion pesos, an increase of 14.6% from 2.13 billion pesos in the year-earlier period.
The normalized profit margin fell to 9.0% from 9.4% in the year-earlier period.
Total revenue grew 18.7% year over year to 26.95 billion pesos from 22.71 billion pesos, and total operating expenses increased 16.3% from the prior-year period to 22.52 billion pesos from 19.36 billion pesos.
Reported net income rose 12.5% from the prior-year period to 3.22 billion pesos, or 1.47 pesos per share, from 2.86 billion pesos, or 1.31 pesos per share.
As of Feb. 6, US$1 was equivalent to 44.31 Philippine pesos.
