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Pomifrutas Q1 loss widens YOY

Pomifrutas SA said its normalized net income for the first quarter came to a loss of 61 Brazilian centavos per share, compared with a loss of 30 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.6 million reais, compared with a loss of 2.3 million reais in the prior-year period.

The normalized profit margin declined to negative 59.9% from negative 19.6% in the year-earlier period.

Total revenue declined 30.2% on an annual basis to 8.1 million reais from 11.6 million reais, and total operating expenses rose 8.8% on an annual basis to 12.6 million reais from 11.6 million reais.

Reported net income came to a loss of 7.3 million reais, or a loss of 96 centavos per share, compared to a loss of 3.5 million reais, or a loss of 46 centavos per share, in the year-earlier period.

As of May 15, US$1 was equivalent to 2.98 reais.