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Gloria SA Q3 profit falls YOY

Leche Gloria S.A. said its normalized net income for the third quarter amounted to 6 Peruvian céntimos per share, a decline of 52.7% from 13 céntimos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.5 million soles, a decline of 52.7% from 56.2 million soles in the prior-year period.

The normalized profit margin fell to 2.3% from 4.9% in the year-earlier period.

Total revenue came to 1.13 billion soles, compared with 1.14 billion soles in the prior-year period, and total operating expenses climbed from the prior-year period to 1.07 billion soles from 1.03 billion soles.

Reported net income declined 65.5% on an annual basis to 21.5 million soles, or 5 céntimos per share, from 62.2 million soles, or 15 céntimos per share.

As of Nov. 14, US$1 was equivalent to 3.42 soles.