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Alicorp profit misses consensus by 69.8% in Q1

Alicorp S.A.A. said its first-quarter normalized net income came to 2 Peruvian céntimos per share, compared with the S&P Capital IQ consensus estimate of 6 céntimos per share.

EPS decreased 70.8% year over year from 6 céntimos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.6 million soles, a decline of 70.8% from 50.0 million soles in the year-earlier period.

The normalized profit margin dropped to 1.0% from 3.6% in the year-earlier period.

Total revenue grew 8.5% on an annual basis to 1.51 billion soles from 1.39 billion soles, and total operating expenses increased 10.1% on an annual basis to 1.40 billion soles from 1.27 billion soles.

Reported net income fell 65.3% on an annual basis to 20.6 million soles, or 2 céntimos per share, from 59.5 million soles, or 7 céntimos per share.

As of April 30, US$1 was equivalent to 3.13 soles.