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Agroindustrial Laredo Q4 profit falls YOY

Agroindustrial Laredo S.A.A. said its normalized net income for the fourth quarter amounted to 15 Peruvian céntimos per share, a decrease of 48.5% from 30 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 1.8 million soles, a decrease of 48.5% from 3.4 million soles in the prior-year period.

The normalized profit margin dropped to 3.5% from 4.7% in the year-earlier period.

Total revenue grew on an annual basis to 75.6 million soles from 73.4 million soles, and total operating expenses came to 63.9 million soles, compared with 63.5 million soles in the year-earlier period.

Reported net income decreased 99.4% year over year to 98,000 soles, or 1 céntimos per share, from 16.9 million soles, or 1.46 soles per share.

For the year, the company's normalized net income totaled 88,130 soles, compared with income of 28.2 million soles in the prior year.

Full-year total revenue fell 10.2% year over year to 254.2 million soles from 283.1 million soles, and total operating expenses rose year over year to 233.6 million soles from 226.7 million soles.

The company said reported net income came to a loss of 1.2 million soles, or a loss of 10 céntimos per share, in the full year, compared with income of 46.8 million soles, or 4.05 soles per share, the prior year.

As of April 15, US$1 was equivalent to 3.28 soles.