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Lima Caucho swings to profit in Q3

Lima Caucho SA said its third-quarter normalized net income was 2 Peruvian céntimos per share, compared with a loss of 10 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 341,880 soles, compared with a loss of 2.2 million soles in the prior-year period.

The normalized profit margin climbed to 1.5% from negative 11.3% in the year-earlier period.

Total revenue grew 15.8% on an annual basis to 22.3 million soles from 19.2 million soles, and total operating expenses declined year over year to 21.3 million soles from 21.7 million soles.

Reported net income came to 547,000 soles, or 3 céntimos per share, compared to a loss of 3.5 million soles, or a loss of 16 céntimos per share, in the prior-year period.

As of Oct. 14, US$1 was equivalent to 3.40 soles.