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SLC Agrí­cola profit beats consensus by 31.7% in Q3

SLC Agrícola S.A. said its third-quarter normalized net income was 36 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 27 centavos per share.

EPS rose 89.5% year over year from 19 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 34.5 million reais, a gain of 86.9% from 18.5 million reais in the prior-year period.

The normalized profit margin dropped to 2.6% from 5.9% in the year-earlier period.

Total revenue grew 9.1% on an annual basis to 342.7 million reais from 314.2 million reais, and total operating expenses decreased 7.1% year over year to 245.8 million reais from 264.5 million reais.

Reported net income grew on an annual basis to 11.6 million reais, or 12 centavos per share, from 2.0 million reais, or 2 centavos per share.

As of Nov. 11, US$1 was equivalent to 3.76 reais.