Compañía Agricola San Felipe S.A. said its first-quarter normalized net income amounted to 7.31 Colombian pesos per share, a gain from 2.24 pesos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 438.5 million pesos, an increase from 134.6 million pesos in the year-earlier period.

The normalized profit margin climbed to 18.9% from 10.0% in the year-earlier period.

Total revenue climbed 74.9% on an annual basis to 2.35 billion pesos from 1.34 billion pesos, and total operating expenses climbed 40.8% on an annual basis to 1.68 billion pesos from 1.20 billion pesos.

Reported net income rose year over year to 462.8 million pesos, or 7.71 pesos per share, from 141.7 million pesos, or 2.36 pesos per share.

As of May 27, US$1 was equivalent to 3,052.50 Colombian pesos.