Empresa Agroindustrial Cayaltí S.A.A. said its first-quarter normalized net income was a loss of 1.1 million soles, compared with a loss of 2.5 million soles in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 20.7% from negative 36.8% in the year-earlier period.

Total revenue fell 22.0% year over year to 5.4 million soles from 6.9 million soles, and total operating expenses decreased 19.3% on an annual basis to 6.1 million soles from 7.6 million soles.

Reported net income came to a loss of 1.8 million soles, or a loss of 1 céntimos per share, compared to a loss of 4.0 million soles, or a loss of 17 céntimos per share, in the prior-year period.

As of May 2, US$1 was equivalent to 3.29 soles.