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Empresas Hites Q1 profit climbs YOY

Empresas Hites SA said its first-quarter normalized net income amounted to 4.07 Chilean pesos per share, a gain from 1.89 pesos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.54 billion pesos, a gain from 714.1 million pesos in the prior-year period.

The normalized profit margin increased to 2.6% from 1.2% in the year-earlier period.

Total revenue grew year over year to 60.77 billion pesos from 59.78 billion pesos, and total operating expenses totaled 56.56 billion pesos, compared with 56.41 billion pesos in the year-earlier period.

Reported net income grew on an annual basis to 2.03 billion pesos, or 5.38 pesos per share, from 990.6 million pesos, or 2.63 pesos per share.

As of May 12, US$1 was equivalent to 605.39 Chilean pesos.